CRI will be launching complete range of sewage and waste water pump solutions in India
Coimbatore-based C.R.I. Pumps has entered into a Share Purchase Agreement with the shareholders of Fabbrica Italiana Pompe Sommergibili Srl (FIPS), Milan, Italy for acquisition of 100% of the share capital of the company. The company did not disclose the acquisition cost, however said in the next 12 months it would invest around Euro 2 million.
Soundararajan, Vice Chairman, CRI Pumps Pvt Ltd, said that “CRI has been strategically focusing on different applications through organic as well as inorganic path. With the acquisition of FIPS Italy, CRI will be launching the complete range of sewage and waste water pump solutions in India using the technology transfer advantage from FIPS Italy. CRI with its strong manufacturing and R&D capability, will be able to offer World class technology to meet the growing industry demands”.
The company said that this acquisition will enable CRI to scale new heights in embracing innovative technologies in Sewage, Effluent, Drainage and Waste Water handling Solutions for Municipal, Industrial , Residential & Building applications. This is the second acquisition after its recent acquisition of Pumps & Process Systems Ltd – UK for Industrial pump range.
Fabbrica Italiana Pompe Sommergibili Srl,(FIPS) is a Milan, Italy based company founded in 1978 and has an established track record of performance in Waste & Sewage water pumps, across the globe. FIPS products has its presence in Italy, Western Europe, Eastern Europe, Middle East, South Africa, China and several other countries.
FIPS pumps range from 0.5 HP – 250 HP with Vortex, Grinder, Single Channel & Multi Channel impellers and discharge size from DN-50 to DN – 400 mm. These ranges are available from 50hz / 60hz in 2 pole, 4 pole, 6 pole and 8 pole with various material of construction to meet the demand of Municipal, Effluent and Industrial applications and ably supported by its Mixers, Guide Rail system and accessories to offer total solution.
As per Mcilvaine research report the waste water pump market is valued at $ $8 billion (around Rs 48,000 crore) globally and is growing at CAGR 5.7% for the period 2011 -16. Municipal waste water plants are the major user, contributing nearly 23% of the end-user market, followed by chemical, power and refining industries witnessing huge purchase of waste water pumps. Asia-pacific region is the key growth market, China & India being the toppers in the list.
C.R.I. estimates the market size of sewage & waste water pumps in India to be around INR 500 Crore and growing at the rate of 15 to 20 % annually, as waste water treatment sector have huge opportunity.
Orfeo Agostini, Managing Director, Fabbrica Italiana Pompe Sommergibili Srl said that with the takeover of the company by CRI, FIPS can further invest in new product developments to grow the global business while improving the profitability, by reducing costs through integrating the supply chain, making the products cost effective. We are excited by the advantages we will gain by bringing together two teams with shared values and a commitment to quality, performance and customer satisfaction.”
Soundararajan added that CRI would develop FIPS, Italy as a strong global company in waste water and sewage industry. Current management team of FIPS will continue to manage the operations of the company.
FIPS will continue to function as an independent company taking advantage of its brand, technology and its global reputation. CRI is planning to invest in FIPS, Italy to strengthen its manufacturing and research capabilities. Existing customers of FIPS will also be greatly benefited by this new acquisition, as FIPS will be able to offer better services and products to their needs.
source: http://www.business-standard.com / Business Standard / Home> Companies> News / by BS Reporter / Chennai – March 31st, 2014