Kalmar India scouts for buyouts

In a bid to expand base in India, container handling equipment company Kalmar India is close to acquiring a Mumbai-based medium sized heavy industrial engineering company.

Kalmar India, a joint venture between Finland-based Kalmar Industries and domestic firm Indlift Trucks, was scouting for acquiring equipment facilities and training centres for container handling in India, sources close to the development said.

"The financial advisors are evaluating the valuation of the company. The deal is likely to be concluded shortly," sources added. Kalmar India Managing Director G Vijay Kumar said the company is open for acquisition but nothing has been finalised yet.

This year, Kalmar India is planning to sell 60 to 70 container handling equipment worth Rs 250 crore in India. The company sold 52 machines last year. The company has recroded total sales of Rs 220 crore last year.

"Now, we are planning to incorporate more locations, hire more sales and service engineers, provide training programme and strengthen spare parts supply in the country," Kumar said.

Kumar said the company is also planning to invest about Rs 100 crore in the next three years and is exploring the possibilities to set up a manufacturing facility in the country. Kalmar Industries, the parent company of Kalmar India, has got manufacturing facility in Sweeden, Finland, Netherlands and China.

Kalmar India had also secured contract of supplying 20 reach stacke (container handling equipment at container freight stations) to Hind Terminals, who had won the mandate to run container trains.

To add, private terminal operator at Jawaharlal Nehru Port Trust (JNPT) Gateway Terminal India has placed an order for 29 Rubber Tyred Gantry Cranes (RTGCs).

Kalmar currently has strong presence in India with around 250 machines ranging from RTGCs, reachstackers, terminal tractors and forklifts.