New Delhi, Feb 4: Escorts Construction Equipment Ltd (ECEL) today said it has signed an agreement with Singapore Technology Kinetics (STK) to market 'LeeBoy' brand of equipment in India, Nepal, Sri Lanka and Bhutan.
''ECEL has inked an agreement with STK, the owners of the US-based 'LeeBoy' brand, to market 'LeeBoy' brand of equipment for road construction and maintenance purposes,'' a company statement said. The earmarked territories for marketing of the products by ECEL include some of the high growth geographical areas like India, Nepal, Sri Lanka and Bhutan, the statement added.
These equipments shall include motor graders, hydrostatic pavers and pothole patchers.
With the increased focus on infrastructural projects like roads, this arrangement would provide a big fillip to ECEL's ongoing mega growth plans.
''ECEL's green-field manufacturing facility in Ballabgarh is expected to be on stream during the first half of 2008, which will help more than double the current manufacturing capacity in the initial phase, and to over 14,000 units annually, at the end of the second round of the planned expansion programme,'' the statement said.
''ECEL has ambitious growth plans over the next five years, with a slew of new product introductions, making forays into adjacent and familiar verticals. The tie up, much in align with our growth plans will complement our offerings and further consolidate our leadership position in the segment,'' said Escorts Chairman Rajan Nanda.
Incorporated in 1995 following a spin-off from its parent Escorts Ltd, ECEL is a construction equipment and material handling equipment manufacturing firm.