Bangalore, Oct 23 (UNI) Karnataka-run BEML Ltd has made its foray into Malaysia to tap the growing demand of mining equipment and its spares and to establish a global warehouse for sourcing and supplying mining and construction equipment spares.
The launching ceremony was held at Johor Bharu in Malaysia today.
The Rs 2600-crore defence giant was making endeavour to globalise its operations and already it had established a company, 'BEML Brasil' in Brazil to establish marketing office and assembly plant for its mining products.
BEML had its market spread over 45 countries netting an export figure of 28 Million Dollars during 2007. Its JV BEML Midwest with its strategic partners of Sumbermitra Jaya of Indonesia and Midwest Granite of Hyderabad was also aggressively exploring business interests in contract mining both in India and South Asia, a company release said here tonight.
BEML Malaysia would act as a regional global distribution centre for stocking, selling its spares and servicing its equipment in South Asia and Australia. To begin with, BEML was expected to achieve a turnover of 35 Million Dollars from its Malaysian entity and had set a corporate goal of achieving a turnover of US Dollar one billion by 2012-13, coinciding with its golden jubilee year, the release added.