Pai Machines, a leading advanced machinery manufacturer, has completed the asset purchase of L&T Construction Equipment Limited’s (LTCEL) manufacturing facilities. This strategic move expands Pai Machines’ presence in India’s construction equipment segment according to a press release.
As part of the transaction, a 70-member manufacturing team, including a 40-member product development and Research and Development (R&D) team, have joined Pai Machines. The acquired plant has a production capacity of over 1,800 units, employing over 300 people.
“Pai Machines aims to lead the way in in-house development of cutting-edge products, establishing a robust foundation for delivering exceptional service to our customers,” said Abhijeet Pai, Founder, Pai Machines. “This asset purchase represents a significant step forward. We aspire to be recognized as a company driven by innovation, quality, and sustainability, integrating advanced technologies like telematics and Artificial Intelligence (AI) into our product development process.”
The acquisition aligns with the ‘Make in India’ for the World initiative. Pai Machines will leverage its newly acquired state-of-the-art resources and skilled workforce to develop next-generation electric machines for earth-moving and construction sectors.
Key growth areas include diversifying into batching plants and agri-equipment, such as electric tractors, 5-ton wheel loaders, and 3.5-ton mini excavators. Pai Machines will implement AI and Machine Learning technologies for predictive maintenance.
