Zoomlion and India’s Electromech have signed an agreement in Changsha to build a joint venture. The joint venture- Zoomlion-Electromech Joint Venture Co. (India) - is Zoomlion’s first project with direct overseas investment, which will focus on the manufacturing of tower cranes, according to the company. The plant is Zoomlion’s second overseas manufacturing base after acquiring Italy-based CIFA in 2008, and also the first overseas manufacturing base for tower cranes.
Electromech is India’s largest crane manufacturer with outstanding marketing and manufacturing capacity, and Zoomlion’s crane company is the world’s largest tower crane manufacturing enterprise, so the cooperation of the two companies will effectively integrate both sides’ indigenous, technical and management advantages and boost the joint venture to be the strongest in Indian construction equipment industry.
According to Zoomlion Annual Report of 2011, Zoomlion has focused on the emerging markets like Africa, Asia and South America, and proposed “accelerating its overseas manufacturing base construction in Brazil and India”.