Cargotec Strengthens its Presence in India
Cargotec has made an agreement to acquire Indital Construction Machinery Ltd. (Indital) a company based in Bangalore, India. The acquisition creates manufacturing presence in India for Cargotec and supports the growing sales activities of all three of Cargotec’s business areas. Indital has its manufacturing facility in Bangalore, producing container reach stackers, heavy fork lift trucks and mobile cranes used for loading trucks (pick-and-carry). Cargotec’s ownership will be 95 percent. The parties have agreed not to disclose the transaction value. The transaction is subject to authority approval.