New Delhi: Escorts Construction Equipment Limited today said it has tied up with STK to market the Singapore-based firm’s LeeBoy brand of road construction equipment in India, Srilanka, Nepal and Bhutan.
Singapore Technology Kinetics (STK), a part of Singapore government’s investment arm Temasek, owns the global rights to US-based LeeBoy brand of road construction and maintenance equipment, Escorts Construction Equipment Limited (ECEL) said in a statement.
ECEL would sell Motor Graders, Hydrostatic Pavers and Pothole Patchers from STK’s range and would complement the Indian firm’s existing product portfolio.
The company is setting up a greenfield manufacturing facility in Ballabgarh, Haryana, which is expected to go on stream during the first half of this year.
The new facility would double ECEL’s existing manufacturing facility to over 14,000 units per annum.
“ECEL has a highly ambitious growth plan over the next five years, with a slew of new product introductions, making forays into adjacent and familiar verticals. The tie-up, much in alignment with our growth plans, will complement our offerings and further consolidate our leadership position in the segment,” Rajan Nanda, chairman, Escorts said in the statement.