This facility will manufacture construction and material handling machines. XCMG to invest $150 million for the new manufacturing facility in India. Construction equipment and material handling products will be manufactured through this facility. The company eyes substantial market share in the country and plans to export neighbouring countries.
Schwing Stetter India has been at the forefront of the Indian concreting industry. It has strong management capabilities that will help XCMG to meet their growth targets and expectations in the Indian market as well. Wang Min, Group Chairman of XCMG China said, “We have been eyeing the robust Indian market for the past few years, because of the vast potential it possess.
Moreover, our strategic partnership with Schwing Stetter who is already a pioneer in the Indian construction space is extremely valuable to us at this key juncture. We are sure that our products will reach the right audience in the Indian market through this partnership.”
Anand Sundaresan, Chairman, Schwing Stetter Sales and Services India said, “Aligning with the Make-in-India initiative, our new facility will now manufacture Construction equipment and material handling products, thus enabling us to widen our product range. Our extensive reach across India, will help us build brand XCMG in the country.”