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Kalmar signed a Letter of Intent with ARX Mining and Construction Equipment Private Limited for ARX to become Kalmar's contract manufacturing partner in India, responsible for manufacturing and development of Indital branded products. As a result, Kalmar will close its multi-assembly unit in Bangalore, reducing about 55 jobs.
“The planned actions would improve Kalmar's operational efficiency and profitability thanks to a more optimised global supply setup and streamlined product portfolio.”heavyliftnews.com
Summarized from public sources; check the original articles before acting on it.