The Exim container market in India has grown at a CAGR of 12% in the past five years as compared to 8-10 percent growth in other commodities such as POL, Iron Ore and Coal experienced during the same period. Growth in the container market is expected to continue in the medium term as a result of rising containerization levels and growth in trade. At 51%, the containerization level in India continues to fall short of that in developed countries which have achieved significant levels of 70-80 percent.

Colin Wilson, President & CEO, NMHG who mentioned that: "Hyster is one of the best known names in the industry with a reputation of making dependable lifting equipment since 1929. NMHG values long term relationships and a partnership with a 70-year strong Company in India clearly is a testament to our conviction.

TIL already has more than 5 decades of experience of value engineering, manufacturing and distribution of high-end material handling equipment and therefore, possesses excellent domain knowledge. TIL's dense distribution network, spread over 80 locations in India, and ensures maximum local coverage. These are important factors for our business to succeed." 

He further added: "We are very happy with the quality of products coming out of the Kharagpur plant and we have started exporting Reach Stackers to the Asia Pacific Region. We expect the export volume to grow in the coming years. I also thank the Indian customers for showing confidence in Hyster TIL products. Our partnership is an enduring one.

"We are committed to the Indian market and will use all our joint experiences and capabilities to ensure that' we maintain the leadership position in the coming years and also provide our customers a significant competitive advantage through our products and solutions."
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