Action Construction Equipment Limited in discussions with KATO WORKS CO LTD

Action Construction Equipment Limited is currently in discussions with KATO WORKS CO LTD., a Japanese global construction equipment manufacturer of Mobile Cranes, Excavators and other equipment (hereinafter referred to as KATO) to establish a joint venture in India, and the two Companies plan to sign a formal contract as soon as they reach an agreement on the terms.

The Joint Venture intends to produce medium and large sized cranes (mainly Truck Cranes, Crawler Cranes and Rough Terrain Cranes) for the growing Indian market and in the future, JV also plans to utilize the technology which will be cultivated in the company's development and introduce wide range of value added products for exports to other countries from India.

Going forward, we will proceed with preparations with KATO to establish the joint venture and strive to establish a business foundation so that the business will grow steadily as a pillar of our medium- to longterm growth strategy.

The establishment of the Company will be announced appropriately once the details have been finalised.

Source : Equity Bulls

Keywords

ActionConstructionEquipment ACE KATOWORKSCO JV India