ACE and Kato Works join forces for crane manufacturing

Action Construction Equipment is set to collaborate with Kato Works for a joint venture focused on manufacturing truck cranes, crawler cranes, and rough terrain cranes in India.

Action Construction Equipment Ltd has told the stock exchanges that it is in talks with Kato Works, a well-known Japanese producer of mobile cranes, excavators, and other construction machines, to establish a joint venture in India.

Once the arrangements are finalised, the two corporations will likely formalise their cooperation. The joint venture will manufacture medium and large cranes, including truck cranes, crawler cranes, and rough terrain cranes. The firm also intends to use innovative technologies to create a variety of value-added items for export.

In its latest financial report, Action Construction Equipment reported a 36% increase in consolidated revenue for the March quarter, rising to ₹835.84 crore from ₹613.84 crore last year. Revenue increased nearly 11% sequentially from ₹753.11 crore in the December quarter. In FY24, the company’s revenue from operations climbed by 35% to ₹2,913.8 crore, from ₹2,159.68 crore in the previous fiscal year. The company’s net profit nearly quadrupled, increasing by 109% to ₹98.45 crore from ₹47.15 crore the previous year. In FY24, net profit increased by 90% to ₹328.2 crore, from ₹172.99 crore the previous year.