Escorts inks pact with Singaporean Co for marketing

New Delhi: Escorts Construction Equipment Ltd (ECEL) on Monday signed an agreement with the arm of Temasek Group, Singapore Technology Kinetics to market its construction and road equipment brand LeeBoy. Through this agreement, Escorts has got the marketing rights of LeeBoy in India, Nepal, Sri Lanka and Bhutan. Escorts said that the new brand, for which it has earned the rights, would complement the company’s existing range of road equipment products and would serve as a one-s top-shop for its customers. Apart from LeeBoy, Escorts would also have other equipment like motor graders, hydrostatic pavers and pothole patchers, said a company statement. “ECEL has a highly ambitious growth plan over the next five years, with a slew of new product introductions, making forays into adjacent and familiar verticals. The tie-up, much in alignment with our growth plans will complement our offerings and further consolidate our position in the segment,” said Mr Rajan Nanda, Chairman of Escorts. ECEL also said that its manufacturing facility in Ballabgarh was expected to be on stream during the first half of 2008. This would increase its manufacturing capacity by more than double in the initial phase to over 14,000 units annually in the second phase of operations.