Friday, December 15, 2017

TICKER TAPE: EQUIPMENT

JCB  for Rs 500 crore investment at Jaipur plant

JCB India has plans to invest an additional Rs 500 crore over the next five years towards a new plant in Jaipur. The plant to be initially used for fabrication work, is being set up on a 115-acre plot in the Mahindra World City special economic zone. With India being a very huge market for the British digger manufacturer the investment at the Jaipur plant is intended to further consolidate its position 

 

Dana sets up technology centre in Pune

Dana Holding Corporation which offers engineering support to several to original-equipment manufacturers in the light-vehicle, commercial-vehicle, and off-highway markets in India has opened up a technology centre at Pune. The 90,000 square-foot technology facility, which is home to more than 240 engineers, is equipped to offer world-class engineering capabilities and throughout the region. Dana India Technical Center is the company’s 13th facility in India. Dana customers in India include Ashok Leyland Ltd., Caterpillar India, Deere and Co., Force Motors, Ford India, General Motors India, Mahindra & Mahindra, Mahindra Trucks and Buses Ltd., TAFE, Tata Motors, and VE Commercial Vehicle Ltd. Export customers include Caterpillar, Ford, Land Rover, Nissan, Renault, Still, and Toyota. The new lab in Pune features the latest testing equipment for axles, transmissions, materials, NVH, prototyping, inspections, and machining to ensure that products engineered and manufactured by Dana in India meet the company’s highest standards for performance and durability.

 

GMMCO acquires Caterpillar's mining product

Chennai based GMMCO Ltd has taken over Caterpillar s mining product line distribution and support business for its territories from Bucyrus India Pvt Ltd. The latter which is part of the US-based construction and mining tool major Caterpillar Inc manufactures mining equipment which includes draglines, unit rig mining trucks, room and pillar and longwall equipment, electric rope and hydraulic shovels, highwall miners, drills, belt systems and various lines of other equipments. GMMCO previously known as General Marketing and Manufacturing Co Ltd is a part of the empowered Caterpillar dealer in west, central and southern India.

 

India’s CE sector looks Southeast

Exports from India’s construction and mining equipment industry to Southeast Asian markets is predicted to double to 10 per cent over the next three.  The companies that will be aggressively looking to export include manufacturers of heavy-duty equipment like Caterpillar, Schwing, Universal and Greaves Cotton & Co. These firms have been serving the Indian markets for several decades by producing locally. The targeted countries are Indonesia, Myanmar, Vietnamese and the Philippines markets, areas where India-made construction and mining equipment already have a significant presence. It is reported a strong foothold has been established in these countries with at least a 5 per cent market share gained in the last three years for some of the equipment. Australia and New Zealand are expected to be the focus areas in the next phase of expansion

 

Volvo Rents acquired by Platinum Equity

Volvo Rents, a leading North American provider of small-to-medium sized rental equipment for a diverse customer base across multiple industries, including construction, oil and gas, industrial manufacturing, infrastructure, power, and metals and minerals, has been completely acquired by Platinum Equity. Platinum Equity also currently owns Maxim Crane, a full-service provider of crane rental and lifting services. A rebranding initiative is underway, and a new company name and image is expected to be announced soon. Volvo’s rental centres in the US offer a comprehensive line of essential equipment for the construction, commercial and industrial markets, as well as an extensive line of Volvo compact excavators, compactors, wheel loaders, backhoe loaders, compaction equipment, and skid steer loaders.

 

$135 bn mining equipment demand in BRIC 

Worldwide demand for mining machinery is expected to increase in India, China, Brazil and other developing nations on the back of an increase in industrial output and expansion in construction spending. Demand for mining machinery will expand at 8.6 percent per annum up to 2017 to $135 billion thanks to rapid gains in the requirements of mining equipment despite some sales weakness in the short term, according to Mat Raskind, an analyst from the Freedonia Group, a Cleveland-based industry market research firm..  The demand for metals mining equipment will also rise at the most rapid pace stimulated by steel and aluminum production. The greatest sales growth through 2017 will occur in the large Asia-Pacific region, fuelled by substantial investments in new mine production capacity in several nations, it is reported.

 

QUICK TAKES
  • Manitowoc has completed sale of its 50 % interest in Chinese joint venture Manitowoc Dong Yue Heavy Machinery to Tai'an Taishan Heavy Industry Investment
  • Thousands of construction equipment pieces have been put up for auction thanks to the insolvency of Austria’s second-largest construction firm, Alpine Bau GmbH.
  • Notwithstanding lower revenues and a softer mining market Caterpillar has surprised market experts by reporting an operating cash flow for 2013.



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