Epic Update : Gujarat based Apollo Group

Gujarat based Apollo Group, a market leader in road construction equipment business in India, has executed binding agreements pursuant to which the Ammann Group of Switzerland intends to hold a controlling stake of 70% in the consolidated road construction equipment business of the Apollo Group, valued at approximately Rs. 400 crores. The Ammann Group has decided to invest in the core business of the Apollo Group comprising asphalt plants, pavers, curb pavers, bitumen sprayers, compaction equipment, etc. The joint venture is expected to have a more robust portfolio of products and customer solutions, significant operational synergies, global market reach and cash flow generation to support growth.

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