30 July 2012, 00:00
Mequon – July 27, 2012 – Four US-based companies of Astec Industries, Inc. (NASDAQ: ASTE) recently hosted two senior executives of Tractors India Limited (TIL) to further cooperation initiatives and strengthen Astec’s market position in India. Visitors included Sumit Mazumder, Vice Chairman and Managing Director, and Somnath Bhattacharjee, President of Material Handling Solutions Equipment & Project Solutions Business at TIL. The guests visited the Telsmith factory in Mequon, Wisconsin, followed by a factory tour of Kolberg-Pioneer, Inc. (KPI) in Yankton, South Dakota and Johnson Crushers International (JCI) in Eugene, Oregon. The visitors also toured Astec, Inc. and Heatec plants in Chattanooga, Tennessee. Strategic discussions included new product review, expanded training, cooperative manufacturing, and key marketing initiatives to assure success in India.
Founded in 1972, Astec Industries, Inc. is America's leading manufacturer of equipment for asphalt road building, aggregate processing, pipeline and utility trenching, oil, gas and water well drilling and wood processing. TIL is an authorized licensee for manufacturing, sales and distribution of Telsmith, KPI-JCI, Astec Mobile Screens (AMS) and Astec Inc. equipment in India. “We have very optimistic plans for Astec group of crushing and screening and hot mix plants in India. This visit is an important step in strengthening our partnership as it allows us to review our business strategy for India and capture best practices used by the Astec group which can be localized and implemented for the benefit of customers in India. ”said Mazumder. “Astec brand represents a strong brand deliverable in terms of product quality and performance. Astec’s robust product design, features and technology are versatile and adaptable to the Indian customer usage,” noted Bhattacharjee.
“With a continued growth of an Indian economy projected at 7% in 2013 and its booming crushing and screening market, we see India as an important component of our overall global expansion strategy. The Indian government’s 12th 5-year Plan’s objective to invest $600 billion in the infrastructure segment highlights the growing construction and aggregate needs in India. We look forward to responding to these ongoing needs by providing localized application solutions to end-users in the market,” noted Rick Patek, Group Vice President of the Astec Aggregate & Mining.
Established in 1944, TIL is a provider of construction, mining and material handling and road building equipment in India with an extensive manufacturing and engineering experience. Utilizing its newly opened 20,000 square meter production facility in Kharagpur, West Bengal, TIL will manufacture a range of Astec Aggregate and Mining crushing and screening equipment and Astec Asphalt hot mix plants, including track, portable and static plants and double barrel track plants. The new state-of-the-art facility, opened in November 2011, is projected to boost the company turnover substantially in the coming years. “TIL’s solid reputation in the market as a leading manufacturer of high quality material handling equipment with superior customer and after-sales support allows us to build and expand our brand presence in this important market. TIL’s vast distribution network will enable Astec to deliver customized door-to-door support for our clients in India,” said Joe Vig, Group Vice President of Astec AggReCon.
Mr. Bhattacharjee’s recent appointment to TIL underscores TIL’s continued drive to increase the market share in the crushing and screening sector. Mr. Bhattacharjee brings over 26 years of rich experience and proven track record of success in the earthmoving, construction and mining sector. Prior to joining TIL, Mr. Bhattacharjee was with Volvo Group for 12 years, where he served as President-Volvo Trucks India and Executive Vice President – Sales & Marketing, VE Commercial Vehicles. Before joining Volvo, he spent 12 years at L&T – a large engineering conglomerate in India where the last responsibility he held was that of Profit Centre Head for Eastern India, Bangladesh, Bhutan and Nepal. In his earlier assignments, Mr. Bhattacharjee was directly responsible for Product Strategy, Sales & Marketing, After Market, Multi Brand Management, Corporate Communication and Business Strategy functions with Profit & Loss responsibilities up to USD $ 1.2 Billion.
For more information about TIL, please visit www.tilindia.in. For information about Astec Industries companies, visit www.astecworld.com and www.astecindustries.com.
Source: Astec Mobile Machinery GmbH