The Hindu Business Line : Swedish co Kalmar takes 51 pc in Indlift

KALMAR Industries of Sweden, a global provider of heavy duty materials handling equipment and services to ports, inter-modal traffic and terminals, has launched its own subsidiary in India through acquisition of 51 per cent of Indlift, which has been the agent for Kalmar's products in India since 2000.

The previous owner of Indlift is to take over as the managing director of Kalmar India. Indlift employs a total of 18 people spread across Mumbai, Kandla, New Delhi, Visakhapatnam and Bangalore.

Kalmar has a strong presence in India with around 200 of its equipment — ranging from rubber-tyred gantries and reach-stackers to terminal tractors and forklifts — working in the country's various ports and terminals.

The company believes that India is fast emerging as a key growth market for containers, heavy materials handling equipment and other related services. The optimism is based on the fact that there are several projects to modernise the existing port facilities and create new ones.

The container throughput, estimated to be 4 million TEUs in 2005, has been growing at an average rate of 10 per cent annually for the last few years. The country's railway network, one of the largest in the world, is also poised for big expansion.

Kalmar has production plants in Sweden, Finland, the Netherlands, Malaysia, China and the US. Its net sales in 2004 amounted to euro 865.4 million. The Indian subsidiary, however, will be a sales company.

Kalmar is part of Europe's Cargotec Corporation, which is the world's leading provider of cargo handling solutions for ships, ports, terminals and local distribution. In 2004, Cargotec's net sales amounted to euro 1.9 billion.

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Two die in fire at Orchid factory

Coromandel Fert plans stock split

Germany's Messe Munchen offers trade fair centres maintenance

Sujana Universal board okays pref allotment

Stake in SPIC Petro: ONGC to float tenders for merchant bankers to conduct due diligence

Swedish co Kalmar takes 51 pc in Indlift

BPCL approves Bharat Oman investment

Rohm and Haas to set up facility for specialty chemicals in South

Actis Biologics seeks partners to fast-track drug development

Chemfab Alkalies seeks foreign partners for health products unit

ONGC aims to directly market Panna-Mukta-Tapti gas output — To focus on maximising price realisation from jt ventures

Numaligarh Refinery plans to boost Euro-III fuel output

Hind Sanitaryware on the lookout for acquisitions