Ammann and Apollo announce Indian joint venture
Hans-Christian Scheider and Mr Anil Patel announce the new JV
Ammann Group, a leading manufacturer of asphalt mixing plants, compacting machines and asphalt pavers, and India-based construction equipment supplier Apollo Construction Equipment, have announced a joint venture for the Indian market.
The announcement was made at a Bauma press conference jointly hosted by Ammann CEO Hans-Christian Schneider and Anil Patel, chairman of Apollo Construction Equipment and vice chairman of the joint venture Ammann Apollo India Private Ltd.
With three manufacturing facilities, a national sales network and 500 employees, Apollo is the market leader in asphalt mixing plants, compacting machines and asphalt pavers. It also exports product to South East Asia and Africa.
According to Schneider, the JV is part of a global growth strategy for Ammann.
“With eight manufacturing facilities in China, Brazil, Czechoslovakia and Europe, and around 100 agencies worldwide, Ammann is a global player,” said Schneider.
“We see India as an emerging market with huge potential. With a population of 2.5 billion and growing, the Indian authorities are planning to significantly invest in a comprehensive infrastructure programme over the next 10 to 20 years.
“The ‘fit’ with Apollo is ideal, we feel both organisations have similar outlooks, personalities, values and product lines. The joint venture provides a good sound base for future development,” he added.
According to Patel, Ammann Apollo India is well positioned to capitalise on the infrastructure programme. “Apollo is the dominant supplier in this sector with a market share in the region of 70%,” he said. “The current Indian market is approximately the size of the UK market but, by 2024, we expect it to be the third or fourth largest market in the world. Although the primary focus of the joint venture will be the Indian market, we are confident that we will grow our export markets in South East Asia, Africa, and other regions.”