The Manitowoc Co. last week acquired Shirke Construction Equipment, a Pune, India-based company that manufactures Potain tower cranes under license. Shirke is also the Potain distributor for India, Sri Lanka, Nepal, Bangladesh and Bhutan.
The newly acquired business will operate in the future as Potain India Pvt. Ltd., and will continue to manufacture tower cranes under the Potain name.
Eric Etchart, president of Manitowoc Crane Group, said the Shirke acquisition was an excellent fit for the company.
“The Shirke acquisition fits with MCG’s policy of providing industry leading customer service through strong local representation,” said Etchart. “Customers in India and the surrounding region will benefit from our investment. In addition, Potain’s resources and capability in the global tower crane market will be further strengthened.”
The acquisition gives MCG a strong presence in the fast-growing Indian market. The company has also announced plans for a new Manitowoc Crane CARE facility to ensure its customers in the region receive the highest levels of service.
T. R. Badarinarayan, Shirke CEO, said the timing of the MCG acquisition was perfect.
“We have been selling tower cranes in India for well over 30 years and know the market better than anyone,” he said. “The economic growth over the past few years represents the start of a new era in India’s construction history. Our incorporation into the Manitowoc Crane Group will allow us to continue to serve the market from a position of strength.”
Shirke has been in the construction industry since the 1940’s, focusing on tower cranes since the 1970s.