The wholly owned subsidiary of the Korean major has a plant in Chakan spread over 50 acres. The current capacity is around 3,000 excavators but the firm is not going for scaling up capacity at the existing unit this year.
The market condition is very poor. It has witnessed only a growth of around 4%, which is bad for any industry so our current capacity is enough to meet market demand. There are additional issues like policy paralysis, turmoil in the mining sector and poor economy," Dheeraj Panda, head marketing and key account management, HCEI told Times of India.
He pointed out
that he is hoping some issues would be sorted out by October and but
even if that happens the industry is likely to have a maximum growth of
around 10-12%. "Three years back industry grew at 23% and I don't
think before 2014 that same growth rate is achievable," he said.
According to Panda, HCEI is expecting to sell around 2700 excavators ranging mainly from 8 tonne to 34 tonne capacity. "We should clock a turnover of around Rs 1100 crore by December 2012. As I said market is not very promising so we hope to maintain our market share of 18%," he added. HCEI competes with rivals such as Telcon, L&T-Komatsu, JCB and Volvo, The company closed last year at around Rs 750 crore, the report further stated.
According to Panda, HCEI is expecting to sell around 2700 excavators ranging mainly from 8 tonne to 34 tonne capacity. "We should clock a turnover of around Rs 1100 crore by December 2012. As I said market is not very promising so we hope to maintain our market share of 18%," he added. HCEI competes with rivals such as Telcon, L&T-Komatsu, JCB and Volvo, The company closed last year at around Rs 750 crore, the report further stated.
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