A Memorandum of Understanding (MoU) has recently been signed between the state government of Maharashtra and the Pune-based Universal Construction Equipment and Machinery Pvt Ltd. The MoU was signed for having an additional manufacturing facility at Shivare and the Secretary (Industries, Government of Maharashtra ), Mr. V.K. Jairath and the Managing Director of Universal Construction Machinery & Equipment Pvt Ltd, Mr. Ranjeet More have signed the MoU on behalf of their respective organizations.
The two parties of the MoU have released an official statement regarding the matter and said that with this new MoU signing, the Universal Group would be able to expand and set up its additional manufacturing facility of 50,000 sq ft at Shivare named Phase II. The group is having a total market capitalization of Rs 150-crore and it is planning to manufacture transit mixers, tower cranes, concrete batching plants, reversible drum mixer, concrete pump and mini dumpers in the coming years. The company is also planning to create employment for more than 500 people in the near future.
According to one of the top officials of the company, Universal is planning to roll out its newly launched product named the "Transit Mixers" and the reversible drum mixer from its additional facility, in the initial period. The official said that the company is targeting to produce 50 transit mixers per month initially. The official also said that the production of the reversible drum Mixer is likely to go up from 100 to 200 per month, with the new manufacturing facility. The official said that the company is planning to make an initial investment of Rs 58 crore in the facility and it would go up to a total of Rs 232 crore within a period of five years.
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| Posted : 3/27/2008 |
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