BEML opens sourcing office in ChinaMay 1st, 2008 - 9:22 pm ICT by admin
New Delhi, May 1 (IANS) Aiming to raise its business volume, India’s state-run heavy earthmoving equipment manufacturer - the Bharat Earth Movers Ltd (BEML) - has opened its overseas office in Shanghai, China, the company said Thursday. “The company has opened its overseas office in China yesterday (Tuesday), for sourcing and marketing purposes, in the presence of Consul General of India in China,” it said in a statement.
The office was inaugurated by BEML chairman and managing director V.R.S. Natarajan.
The Rs.30 billion company, earlier known as Bharat Earth Movers Ltd, is engaged in the manufacture of heavy earthmoving equipments for the mining and construction sector, rail coaches and metro rail cars to the railway segment, and heavy duty trucks for the defence needs. It recently forayed into trading and technology businesses.
“By opening its China office, BEML would be sourcing critical components and machinery parts required for the manufacturing of its mining and constructions equipments as also for the manufacture of wagons and rail coaches,” the statement said.
With foray into China with representative and marketing office for outsourcing and promoting its high-end mining equipments, BEML expects to raise its business volume substantially and increase its market share besides encashing on the emerging market growth in India.
The company will be taking advantage of the position of China as the low-cost centre for global outsourcing of engineering parts and aggregates as above.
“In addition, BEML is intending to promote and market high-end mining and construction equipments and spare parts for mining companies in China.”
On unveiling the China office, BEML is anticipating to transact a business volume of over Rs.3 billion in two to three years.
Through this office, it will also target the countries to the northwest of China like Uzbekistan, Kazakhstan and Ukraine.
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