Slowdown forces construction equipment maker ACE to shift focus to exports

The slowdown in the economy has forced construction equipment manufacturer ACE to shift its focus to exports, from which it expects to net around 20 per cent revenue over the next two years, a senior company official has said.

Action Construction Equipment (ACE), which is currently present in 20 countries, is looking at reaching 50 countries in the next two years.

"Spreading our presence in global markets is a natural progression. At the same time, this is a move to mitigate the risks of slowdown in the domestic economy as well," ACE Executive Director Sorab Agarwal told PTI.

The current slowdown has impacted the revenues of the company by almost 15-20 per cent so far, he added.

Nearly 50-60 per cent of ACE's business comes from hardcore infrastructure project, followed by 30 per cent from industrial segment and the rest from tower cranes.

"The infrastructure activity has slowed down due to liquidity crunch. As a result, the revenues of all the equipment manufacturing companies have ..