PTC Alliance Corporation, the US-based $600 million world leader in drawn over mandrel (DOM) steel tubes and chrome bards, has set its eyes on the construction equipment, material handling and excavation equipment market in India by floating a wholly-owned subsidiary called PTC Alliance Precision Products (Asia).
The firm which has been serving clients in India through imports from the parent company will think of setting up facility in India, said N Srikanth, MD.
Speaking to the FE, he said the company?s products find application as cylinder and piston rod parts in hydraulic cylinders fitted in equipment for construction, material handlind and excavation apart from products such as axles, steering, drive shafts, shock absorbers and stabiliser bars.
??We have been the pioneer in innovating new products such as lighter weight tubes with higher strengths, tubes with closer tolerances to improve performance and reduce costs and bards with improved life cycles while adopting green technologies,” Srikanth said. ??We are bullish on the prospects in India as the union government clearly laid the roadmap for massive infrastructure expenditure across the country which will push demand for construction equipment manifold and our products will find major role to play,?? he said.
The demand in Asia for such products estimated to be around 100,000 tonne per annum and is estimated touch 160,000 tonne per annum . In India, the demand is estimated to be around 20,000 tonne per annum and the annual growth has been projected at 40%, he said.