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Our Bureau

Bangalore, Nov. 14

Escorts Construction Equipment has earmarked an investment of Rs 60 crore for setting up two plants.

Escorts Construction Equipment, which is a subsidiary of the Rs 2,400-crore Escorts Ltd, is also considering floating an IPO in another couple of years, its Associate Vice-President for Marketing and Sales, Mr Rajesh Sharma, told Business Line. During 2006-07, the company posted a gross income of Rs 412.8 crore, while the profit before tax was Rs 26.58 crore.

Mr Sharma said an additional investment of around Rs 130 crore in another five years is also being considered. “The fresh investment will, however, depend on how fast we grow,” he added.

He said with the capacity expansion, Escorts Construction Equipment also plans to give a major thrust to its exports. At present, it exports about 100 units of construction equipment which will be increased to about 500 units next year.

Mr Sharma said the company also plans to increase and strengthen its India-specific products as well as employ lean sigma concept which would make the company leaner and more efficient.

The two plants for which an investment of Rs 60 crore has been earmarked will come up in Vallabhgad in Haryana and Rudrapur in Uttaranchal. Escorts has also set up a training school for technicians near Bangalore. It trains students from ITI and other such technical institutes and also provides them jobs.

Escorts Construction Equipment is a market leader in pick and carry cranes in India. It also markets forklift trucks for Doosan Infracore of Korea and articulated boom cranes for Fassi of Italy.

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