TEREX Finlay Wins Major Contract In India
TEREX Finlay has secured an initial £1.5 million contract to supply a range of mobile crushing, screening and washing machinery to a leading equipment rental business in India, following its participation in the recent business mission backed by Invest Northern Ireland.
The contract has been placed by WB Engineers International of Pune, near Mumbai, one of India’s leading machinery supply businesses, and includes TEREX Finlay’s innovative Jaw Crusher equipment for use in the demolition of slums and in road construction throughout India.
The deal was announced today by Nishi Ward, TEREX Finlay’s Regional Sales Manager, who secured the contract during the all-island trade mission to lndia in January. Invest NI assisted a group of Northern Ireland companies, including TEREX Finlay, to take part in this mission. Contacts that led to the order were made during an Invest NI mission in November.
Omagh-based TEREX Finlay, part of the US Terex International corporation, is a globally recognised manufacturer of screening, crushing and recycling machinery for customers in over 80 countries. The company also secured a £600,000 contract last year to supply mobile screening machinery to India’s fast growing iron ore mining industry in Goa and Orissa.
Mr Ward said: “India is now a very important marketplace for machinery across our comprehensive range. It’s a market that we expect to continue to grow strongly as the federal and state governments push ahead with ambitious and long-term plans to improve all aspects of the country’s infrastructure, especially its roads, ports and airports, and new housing development. We are actually in the process of recruiting direct TEREX Finlay staff in India to support our growth in this market.
“The contract with WB Engineers is immensely important because it gives us access to an experienced and successful machinery business with a vast network of depots and a well-established customer base throughout India. As a result, we are very optimistic about the Indian market for our machinery. We are projecting substantial and long-term growth there.
“Invest NI business missions have been very useful in helping us to identify opportunities and then to establish a strong presence in the Indian marketplace. We’ve benefited from the advice and guidance provided by the Invest NI Asia team and from the access provided to experienced commercial staff in this market,” he added.
Welcoming TEREX Finlay’s latest export success, Alan Hingston, Invest NI’s Trade Director, said: “We launched the Opportunity India campaign in 2004 to encourage local companies to explore a market that our research had indicated offered significant opportunities for manufacturing and expert services. Over the past two years, we’ve seen an extremely encouraging growth in business with India that has covered many sectors from engineering to IT and professional services.
"Northern Ireland’s trading links with India have also been strengthened through the development of strategic alliances with Indian companies to address global markets. Some significant business partnerships have been set up in India and Indian companies have also established a presence in Northern Ireland.
“Our Passport to Export programme now offers companies a comprehensive range of services that is designed to enable them to improve capability in markets such as India. This programme includes a schedule of business missions for all Northern Ireland companies in manufacturing and internationally traded services. Our strategy for India also includes two business missions there every year.
“Over the past two years, we’ve enabled companies to explore opportunities in all the main business centres, including Mumbai, Kolkata, Chennai and Bangalore. We will be organising a mission to India and Sri Lanka in the autumn,” he added.
TEREX Finlay currently employs 300 people at its extensive manufacturing operation in Omagh. It also sources components and services from companies in Tyrone and other parts of Northern Ireland.
The company pioneered the development of mobile screening and washing equipment and will celebrate its 50th anniversary next year.