Schwing Stetter India Soars at Excon 2023, Announces Foray into CE-Subsegments with ₹ 5,000+ Crore Revenue in 2023
In a strategic move to bolster its position in the concreting and construction equipment sector, Schwing Stetter India unveiled a groundbreaking array of new products at Excon 2023. The launch marks the company's venture into critical Construction Equipment (CE) subsegments, including mining, shipping, and road & highway infrastructure industries. This unveiling is poised to play a pivotal role in achieving Schwing Stetter India's ambitious long-term growth plans.
Bangalore, India, December 21, 2023:
Schwing Stetter India, a renowned name in the country's concreting and construction equipment manufacturing landscape, presented a compelling vision at Excon 2023. The newly introduced product line-ups aim to address key pain points in CE-subsegments such as mining, ports, material handling, and road & highway infrastructure.
Revenue Triumphs and Growth Strategies
The year 2023 witnessed Schwing Stetter India reporting a commendable total revenue of ₹ 5,000+ crore, showcasing a robust Year-over-Year growth of 35%. This financial triumph is attributed to the company's sustained investments in Research and Development (R&D), an unwavering focus on long-term growth strategies, a diversified portfolio spanning across key industries and markets, and the collective determination of its employees to drive performance and growth.
V G Sakthikumar, the Managing Director and Chairman of Schwing Stetter India, expressed his views on the company's growth trajectory, stating, "The demand for our construction and concreting equipment machinery has experienced a stellar surge since the onset of COVID-19. The record volumes achieved in recent years were made possible by the stimulus measures implemented by the Government of India to boost infrastructure development."
He continued, "Looking ahead, we are bullish about both short and long-term growth prospects for 2024. To fortify our position, we have unveiled 31 new products tailored for mining, shipping, and road & highway infrastructure industries, covering areas such as port container handling, mining support, and road patching equipment at Excon 2023. As we continue to add more product categories in response to robust demand, our aspiration is to evolve into a comprehensive one-stop-shop for customers in the construction industry."
Excon 2023 Showcase: Sustainability and Innovation
At Excon, Schwing Stetter India showcased an impressive lineup of over 70 machines, underscoring its commitment to sustainability by emphasizing efforts to achieve CO2 reduction in the environment. The company's dedication to innovation, coupled with a focus on environmental responsibility, positions it as a leader in the ever-evolving landscape of concreting and construction equipment.
About Schwing Stetter India Private Limited
Incorporated in June 1998, Schwing Stetter India commenced its manufacturing operations in 1999. As a 100% subsidiary of Schwing GmbH, a German concreting machinery manufacturer with a valuation of 1.30 billion USD and a part of the XCMG group, Schwing Stetter India has been a pioneer in manufacturing equipment for concrete preparation, placement, transportation, and recycling.
The company's product portfolio includes concrete batching plants, concrete placing booms, concrete pumps, concrete truck mixers, recycling plants, plastering pumps, self-loading mixers, and sludge pumps. Beyond manufacturing, Schwing Stetter (India) is also involved in selling and servicing a diverse range of equipment, from concrete pavers and aerial working platforms to all-terrain cranes, cold milling machines, and more.
Schwing Stetter operates globally, with manufacturing units in 12 countries, including Germany, Austria, USA, Brazil, Russia, Ostrava, and the UK. The company's sales and service centers span across France, Netherlands, Austria, and Sweden, with representations in over 150 countries worldwide.
For more information, visit Schwing Stetter India.
In summary, Schwing Stetter India's transformative strides at Excon 2023, coupled with its robust financial performance, position it as a trailblazer in the concreting and construction equipment industry. The company's commitment to sustainability and innovation further solidifies its role as a key player in shaping the future of infrastructure development in India and beyond.
