Crane maker Anupam, Mitshubishi ink JV for port cranes, equipment

11 Nov 2011

1

Leading crane manufacturer Anupam Industries and Japan's Mitsubishi Heavy Industries on Thursday signed a deal to form a new joint venture company, Anupam-MHI Industries, to manufacture port cranes and material handling equipment (MHE) for domestic and global markets.

Anupam Industries will hold 51 per cent and MHI 49 per cent in the joint venture firm. The two partners will together invest equity capital of Rs188 crore in the venture, aiming to cater for Indian as well as global markets for port cranes and MHE.

The company will have two manufacturing units at Anand and Mundra in Gujarat, with its head office to be located at Anand, said Mehul Patel, managing director of Anupam Industries and chief executive officer of the new venture, at a press conference in Mumbai.

The new company is expected to commence operations in the first half of 2012 with a targeted annual production of 60 units.

Anupam-MHI will have total work force of around 2,000 people. The facilities at Anand and Mundra would be the first and only of their kind in India and one of the very few in the world, the company said.

The first phase of capital expenditure for the JV has been finalised with a capital expenditure of Rs280 crore. The company expects Rs800 crore worth of sales in the first year.

Business History Videos

History of hovercraft Part 3...

Today I shall talk a bit more about the military plans for ...

By Kiron Kasbekar | Presenter: Kiron Kasbekar

History of hovercraft Part 2...

In this episode of our history of hovercraft, we shall exam...

By Kiron Kasbekar | Presenter: Kiron Kasbekar

History of Hovercraft Part 1...

If you’ve been a James Bond movie fan, you may recall seein...

By Kiron Kasbekar | Presenter: Kiron Kasbekar

History of Trams in India | ...

The video I am presenting to you is based on a script writt...

By Aniket Gupta | Presenter: Sheetal Gaikwad

view more