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Bennet , Colemen & co has attained a 3.2% equity stake in Action Construction Equipment (ACE), the largest mobie crane and tower crane manufacturer in the country. The transaction has taken place at a valuation of Rs 100 per share. ACE has a consolidated presence in all major infrastructure, construction ,heavy engineering and industrial projects across the country including power projects, metro rail, road projects, dams and building construction. BCCLs decision to pick up equity in ACE was primarily governed by a positive outlook towards infrastructure development in the country. The rapid growth in the infrastructure development accompanied by an increase in mechanisation has led to a robust growth in the requirement of mobile cranes and construction equipment. ACE has its state-of-the-art production facility at Faridabad and is also in the process of setting up another manufacturing facility, which would be dedicated to production of loaders, and higher tower cranes. The company has got country wide network for pre-sales and after sales support of its equipment. It has a series of tie-ups with leading foreign companies such as PM of Italy, Zoomalian of China, and Maber of Italy, which facilitate the availability of latest technology and machines from around the world. The size of the construction industry in India is over $ 25bn and it accounts for 6% of the GDP. |
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| Posted : 11/16/2005 |
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