Schwing Stetter India, on Wednesday, announced its foray into material handling industry. The expansion will see the ready-mix concrete equipment maker selling towers cranes of XCMG, a China-based global construction equipment maker that has now majority control of Germany-headquartered Schwing group, in the Indian market.
The plan to sell XCMGâ€™s tower cranes, which will be able to lift heavier loads, comes on the back of a rising demand for mechanisation of construction activities in high-rise projects in the country. â€œWe found an opportunity to fill a gap in this industry, which has only a very few players.
â€œThere is no pan-India player in this category. Also, this foray provides us a synergy as we have been working with a number of builders across the country. So, this existing customer base presents a huge opportunity to sell tower cranes,â€ Anand Sundaresan, Vice-Chairman & Managing Director, Schwing Stetter India Pvt Ltd., said here.
It has unveiled two products â€“ 5-tonne (with free standing height of 35 metres) & 6-tonne (45 metres) tower cranes. These products will be priced at Rs.60 lakh and Rs.90 lakh, respectively.
V G Sakthikumar, Managing Director, Schwing Stetter Sales & Services Pvt Ltd., the sales and service arm for all products of the group in India, said the company would import the cranes in the initial period. But, it would focus on producing it locally with higher localisation as early as possible.
Total size of tower crane market is estimated at 700 units a year. Schwing aims to sell 50-100 units of its new cranes in the first year.