Terex Vectra,
the world's third largest construction equipment manufacturing company,
is planning to invest $ 4 million in new models, employment recruitment,
and bringing improvements in production standards and taking up
the processing at its Noida plant.
US based Terex Corporation
and UK based Vectra Corporation
will put equal funds as they hold 50 per cent each in the equity
of the company. The company was formed with an initial equity
investment of $6.5 million.
For the upcoming product portfolio, the company will be introducing
a comprehensive range of vibratory compactors, a variant of the
backhoe loader and two variants of skidster loaders. These compactors
are generally semi knock down kits exported to the US. The company
has a target to export six units by the current fiscal year. At
present, vibrators are manufactured for the export market and
the company is planning to introduce them locally as well. But,
it has to wait for the market to get mature.
The production capacity of company’s Noida plant is around
8,000 units annually. However, the required workforce is not enough
to handle the sale target of 2000 odd units for 2007-08. This
encouraged the company to recruit more workers. Terex Vectra is
known to be the largest producer of backhoe loaders in the domestic
market.
The company is likely to make investments in improving its infrastructure
manufacturing quality. It would also expand its existing 32 dealership
network to 40 by the coming fiscal.
