Issue link: https://read.dmtmag.com/i/93576
Rajasthan CM Shri Ashok Gehlot Present as JCB Signs Land Purchase Agreement in Jaipur JCB, one of the world's leading TRENDS AND TIDBITS manufacturers of construction equipment, signed a land pur- chase agreement with Rajasthan government on October 23, 2012. Sir Anthony Bamford, Chairman, JCB, met Rajasthan Chief Minister Shri Ashok Gehlot to hold discus- sions on the way forward. Also present on the occasion were Min- ister for Industries Shri Rajendra Pareek and Chief Secretary Shri C. K. Mathew. With the approximate invest- ment of INR 500 crores; JCB India will set up its fourth manufactur- ing facility on a 70 acre site in Jaipur. This has marked the begin- ning of a new expansion phase for JCB India, India's largest manufac- turer of construction equipment. "India has been an extremely crucial market for JCB, and we have made huge investments in setting up our manufacturing base at strategic locations in the country. This will be JCB's fourth manufacturing footprint in India. With the pro business approach of the State government, Rajas- than is a preferred location for business as it offers new opportu- nities to industries across sectors," said Bamford. Rajasthan has traditionally been a globally popular tour- ist destination, but it has now emerged as a promising business destination, as well. Due to the recent infrastructure development in terms of energy and connectiv- ity, Rajasthan has seen a sudden upsurge in the investment from various companies, as it provides them with significant opportuni- ties to expand their businesses. This will be JCB's fourth factory in India. JCB's other three world-class facto- ries in the country are in Ballabgarh, Haryana, near New Delhi, and two in Pune. The Ballab- garh Plant is the world's largest Backhoe Loader manufacturing facility, which also manufactures Volvo to Slow Production Volvo said it would reduce production rates further aſter the Swedish truck maker reported a bigger- than-expected drop in third-quarter net profit and projected demand for heavy-duty trucks would be flat in most parts of the world next year. Volvo CEO Olof Persson in Stockholm said the Swedish truck maker is under pressure from weak- ening demand throughout the world. Third-quarter net profit fell to 1.37 billion Swedish kronor ($206.9 million), from 3.83 billion kronor in the third quarter of 2011, on weaker sales in Asia and South America, the world's second-biggest truck com- pany said. The sovereign debt crisis and recession in many parts of Europe has sapped demand for trucks, as consumers hold off on making big invest- IDA UNIVERSAL November-December 2012 ments, while U.S. federal budget talks are beginning to weigh on consumers' purchasing moods across the Atlantic, the company said. Volvo expects no growth in total demand in 2013 for heavy-duty trucks, except for in Brazil, where the company forecasts total sales to rise to 95,000 vehicles, from 90,000 vehicles in 2012. Total orders for the group fell 25% to 45,272 trucks in the third quarter. North American orders decreased 33% on the year to 7,929 trucks. Plants making Renault Trucks brand will have 20% lower output in the fourth quarter. Third quarter, produc- tion was cut by around 15% in Brazil and by between 10%-20% worldwide for engines and components.. l http://online.wsj.com By ANNA MOLIN Trends continued on pg 79 77 the JCB Liſtall 'pick-&-carry' crane. Out of the two world-class plants in Pune; one manufactures export-oriented fabrications and components, and the other manufactures state-of-the-art heavy equipment, such as tracked excavators, wheeled loaders and compactors. JCB is also using this extensive manufacturing foot- print in India to export to Eastern Africa, the Middle East and South-East Asia. l Report by India Education bureau, New Delhi. Thursday, November 01, 2012 JCB India Limited Chairman Anthony Bamford Thursday met Rajasthan Chief Minister Ashok Gehlot to hold discussions on land purchase issues in the state.