XCMG has announced that the group will invest $150 million to set up new production units in India. The first intelligent manufacturing facility is expected to be ready by the end of 2017.
Wang Min, Chairman and President of XCMG, surveyed all factories of Schwing Stetter India, a subsidiary of leading concrete pump manufacturer Schwing Group GmbH, which XCMG acquired in 2012, as he visited the country from January 10 to 13, during which he conducted field research of the Indian market by talking to local dealers and hosting meetings regarding development direction and concrete measures.
“The Indian market possesses huge potential,” noted Wang. “2017 marks XCMG's India Year, we will focus on bringing more products with competitive advantages to India and further expand our operation scale here through establishing manufacturing facilities on the ground.”
The new facility is planned to help Schwing Stetter India expand its product range. The products will be sold in India and also to neighbouring countries.
XCMG has established research centers in Germany, Brazil and the United States, while completing the acquisition of German company FT and Dutch company AMCA that specialise in producing hydraulic valves and developing systems, respectively.