Larsen & Toubro, a technology, engineering and construction group, has announced the sale of its interests in L&T-CASE Equipment to its venture partner CNH Global, a company engaged in agriculture and building equipment.
L&T–CASE is producing and selling construction equipment in India. CNH Global has re-named the company as Case New Holland Construction Equipment.
L&T–CASE has its manufacturing facility at Pithampur in Madhya Pradesh, India, and offers a full spectrum of 56 dealers and 144 outlets to distribute its products. Its manufacturing facility at Pithampur, spread over an area of 40 acres, occupies a functional area of approximately 28,000sqm and is presently involved in the construction of vibratory compactors and backhoe loaders. The production facility employs over 600 workers.
According to Harold Boyanovsky, CNH Global’s President and CEO, the company has taken the decision to buy L&T –CASE to strengthen its construction equipment venture in India and in other worldwide export markets. He stated that the recent initiative will also assist the company to develop a production facility and integrate it with its global business. He further added that the plant at Pithampur will enable the company to take advantage of the growth opportunities available now and in the future.
Source: http://www.larsentoubro.com/