Escort ties up with STK for marketing LeeBoy
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