XCMG to Invest 150 Million USD to Build Factories in India, Further Expanding Footprint in Southeast Asia
CHENNAI, India, Feb. 21, 2017 /PRNewswire/ -- XCMG announced on January 12 at a press conference in Chennai, India that the group will invest 150 million USD to set up new production units in India. The first intelligent manufacturing facility is expected to be ready by the end of 2017.
Wang Min, chairman and president of XCMG, surveyed all factories of Schwing Stetter India, a subsidiary of leading concrete pump manufacturer Schwing Group GmbH, which XCMG acquired in 2012, as he visited the country from January 10 to 13, during which he conducted field research of the Indian market by talking to local dealers and hosting meetings regarding development direction and concrete measures.
"The Indian market possesses huge potential," noted Wang. "2017 marks XCMG's India Year, we will accent on bringing more products with competitive advantages to India and further expand our operation scale here through establishing manufacturing facilities on the ground."
The new facility is planned to help Schwing Stetter India expand its product range. The products will be sold in India and also to neighboring countries.
Acquisition and R&D on global basis are XCMG's key strategies, guaranteeing the company's leading position in technological development. XCMG has established research centers in Germany, Brazil and United States while completing the acquisition of German company FT and Dutch company AMCA that specialize in producing hydraulic valve and developing systems respectively.
XCMG has integrated global resources by establishing KD assembly factories in Poland, Uzbekistan, Kazakhstan and Iran to respond faster to the regional markets. XCMG's general manufacture base in Brazil was put into use in 2014.
"As key to our success in the global market, XCMG's emphasis on product localization not only ensures the products comply with international standards, but also targets research and development specifically to the clients' needs. Upon building new factories in India, XCMG will also make the best of Schwing Stetter India's sales network to provide better services to our clients in India," Wang said.
About XCMG:
XCMG is a multinational heavy machinery manufacturing company with a history of 73 years. It currently ranks ninth in the world's construction machinery industry. The company exports to more than 177 countries and regions around the world.
For more information visit: www.xcmg.com, or XCMG pages on Facebook, Twitter, YouTube, LinkedIn and Instagram.
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