Action Construction Equipment Ltd (ACE) Signs MoU with Bank of Baroda for Financing of Construction Equipment Range
ACE – Action Construction Equipment Ltd. one of India’s leading Construction Equipment and manufacturing companies, has signed a Memorandum of Understanding (MoU) with Bank of Baroda to provide financing solutions for the construction equipment businesses.
The MOU was signed in the presence of Manish Handa, VP & Business Head of Earthmoving Equipment Division at ACE, and Mr. Dhrubashish Bhattacharya, Head of MSME & Co-Lending at Bank of Baroda.
Under this agreement, the Bank of Baroda finance option will be available across the country for ACE customers. This pact will empower construction equipment businesses, local entrepreneurs, and startups by providing seamless access to a tailored financing option.
Speaking at the occasion of signing this MoU, Manish Handa, VP & Business Head of Earthmoving Equipment Division at ACE, “We are delighted to sign this MoU with Bank of Baroda. This MOU will definitely help our customers with wider choice of financing options across the length & breath of the country and offer a platform to both the ACE & Bank of Baroda to grow their business in a mutually beneficial way.”
This strategic collaboration extends to all Construction Equipment range offered by ACE, including Backhoe Loaders, Front End Loaders, Cranes (all range), Grader, Compactors & Forklifts. ACE remains dedicated to understanding and meeting the evolving needs of the construction industry and its customers.
Action Construction Equipment Limited was established in 1995 by Vijay Agarwal, a technocrat, with over 50 years of industry experience and is run by a team of experienced professionals. ACE is an established and reputed brand with a significant presence across diversified sectors like Construction, Infrastructure, Manufacturing, Logistics and Agriculture. The company is the world’s largest Pick & Carry cranes manufacturer with over 63% market share in the Mobile cranes segment in the country and a majority market share of more than 60% in Tower Cranes segment domestically. Listed on the NSE and BSE highlights its market prominence and financial stability. ACE’s dedication to excellence has been acknowledged through numerous prestigious awards, including India's Top 100 Wealth Creators by Fortune Magazine, India’s Top Challengers 2022-23 Award at the 21st Construction World Global Award, and the Bestseller in Tower Cranes Award at the Equipment India Awards. The company has one of the widest sales and service network, with over 100+ locations supported by 13 regional offices in India and also exports to over 37 countries across Middle East, Africa, Asia and Latin America.
