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Our Bureau

Chennai, Oct 30

Western Auto, part of the UAE-based ETA Star Group and the Austria-based Palfinger have invested €1.2 million (about Rs 7.2 crore) to set up a joint venture company called Star Palfinger headquartered in Chennai to distribute and service Palfinger cranes and hookloaders in India.

Western Auto holds 74 per cent stake in the company and Palfinger, the rest.

The company plans to sell cranes to industries such as construction, waste management, power, rail and roadways. Palfinger cranes can be attached to standard Indian truck chassis, according to Dr Christoph Rauch, Managing Director, Palfinger Asia Pacific.

More Stories on : Alliances & Joint Ventures | Engineering | Automobiles

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