Action Construction Equipment Ltd (ACE), India’s leading mobile crane manufacturing company has acquired a Chinese firm.

For the proposed acquisition, the company (ACE) has inked memorandum of understanding with a Chinese company.

The company did not divulge other details of the deal.

Action Construction Equipment Ltd has clocked a net profit of Rs 12 crore for quarter ending June 2008, and Rs 20 crore for annual ending March 2007.

Shares of Action Construction Equipment settled at Rs 81, up 10.5 per cent on National Stock Exchange.