Elecon Engineering receives new order

Elecon Engineering Company Limited (“Elecon”), one of the leading player in Material Handling Equipment segment and the largest gears manufacturer in Asia announced the receipt of new orders in its material handling business.

The Company announced that it has bagged order worth Rs. 130 Crores from Ramagundam Fertilizers and Chemicals Limited for installing Urea bagging and conveying systems at their complex at Ramagundam, Telangana. The Company also recently received orders worth of Rs. 45 Crores in cement, power, port and coal sectors.

Commenting on the development, Prayasvin Patel, CMD said “We are happy to receive this order in the MHE business which has been moderate due to macro-economic factors gripping our industry. We believe the government continues to take right policy measures and over a period the industry should gradually start witnessing traction from the core sectors”

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www.elecon.com