Crane manufacturing company Anupam Industries and Japanese conglomerate Mitsubishi Heavy Industries (MHI) on Thursday formed a new joint venture company, Anupam-MHI Industries, to manufacture port cranes and material handling equipment for domestic and global markets.
Addressing the media here, Anupam Industries Managing Director and CEO of the joint venture Mehul Patel said, “the two joint venture partners will invest equity capital of Rs.188 crore in Anupam-MHI Industries with Anupam holding 51 per cent and the balance with MHI.'' Headquartered in Anand, Gujarat, its two units will be in Anand and Mundra.
Anupam is the largest overhead crane builder with manufacturing capability of 40,000 tonnes annually after the current expansion. Chairman of the new joint venture Kanji Obata said, “ Leveraging MHI brand, reputation and global customer base , we expect a reasonable market share and position globally.''