Mumbai, Feb 4 (UNI) Escorts Construction Equipment Limited (ECEL), the construction equipment and material handling equipment manufacturing arm of Escorts, today announced inking of a very significant agreement with Singapore Technology Kinetics (STK) to market to market ''LeeBoy'' brand of equipment for road construction and maintenance purposes.
Besides India, the company will also sell the US brand in Nepal, Sri Lanka and Bhutan, the company said in a release here.
Singapore Technology Kinetics (STK) is part of the Temasek Group.
The equipments include motor graders, hydrostatic pavers and pothole patchers. These products are expected to complement ECEL's existing range of road compaction equipment and provide the much-needed one-stop shop for road Construction and maintenance equipment to the customers, the release added.
The agreement is aimed to give a fillip to the Company's mega growth plans which includes the green-field world-class manufacturing facility in Ballabgarh, covering an area of 270,000 sq ft, spread over 15 acres land, and expected to be on stream during the first half of this year. This would 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.
Escorts chairman Rajan Nanda said in the release, ''ECEL has a highly ambitious growth plan over the next five years, with a slew of new product introductions, making forays into adjacent and familiar verticals. The tie up, much in line with our growth plans, will complement our offerings and further consolidate our leadership position in the segment.'' UNI VK MAZ SM1422