India's third-largest forklift manufacturer plans to expand its product range and become the leading player in the domestic market.

Chetan Gole, assistant VP for Action Construction Equipment (ACE)'s forklift division, tells Forkliftaction.com News that the equipment manufacturer is currently evaluating possible acquisitions and has had joint venture offers from "some of the leading brands of the forklift world".

"We have ambitious plans for our forklift business, like our crane business," Gole says. Cranes account for over 85% of ACE's machine sales.

"Currently, we are ranked number three in the Indian forklift business and our plan is to become a leader in this segment as well," he adds.

About 11% of the company's revenue comes from forklifts and the rest from cranes, trucks, loaders, aerial work platforms, mast climbing lifts, lorry loaders and truck-mounted cranes.

According to Gole, ACE's sales turnover for 2007-2008 is USD100 million, and net profit is USD10 million.

ACE has a dedicated forklift plant in Dudhaola, Faridabad, about 40km from New Delhi. The manufacturer sold about 450 forklifts in 2008, mostly in north and west India. It produces a range of 1.5-10 ton diesel, 1.0-3.0 ton electric and 2.0-3.0 ton LPG forklifts.

"We are already expanding our product range by adding new products like telehandlers, multi-loaders and rough-terrain forklifts," Gole says.

ACE has 900 employees. Synergies in manpower are created in the company where possible but 70 people work in the forklift division. The forklifts are distributed by about 70 dealers and agents.

ACE has been included in the Dalal Street Investment Journal's compendium of Top 500 Mid Cap companies in India. Established in 1986, the Dalal Street Investment Journal touts itself as India's leading investment magazine.

The company has plans to foray into the real estate and hospitality sectors through a new subsidiary, according to Indian Business Insight.