Coimbatore-based maker of pumps CRI Pumps is set to acquire a pumps maker in Europe to enter the sewage and wastewater space.
Declining to name the company, G Soundararajan, Vice-Chairman, said talks with the company in Europe are in an advanced stage and the acquisition is expected to materialise in one or two months. “It is a profitable company and we have no plans to shift the production here to India,” he said.
He was referring to an earlier Business Transfer Agreement with UK-based Pumps and Process Systems Ltd following which it shifted the production to India.
Soundararajan was speaking here today after the launch of a new range of stainless steel pumps in the Indian market.
The new range comprises around 400 models of pumps, which are fabricated from sheets. It ranges from 0.5 HP to 400 HP and suitable for application in domestic, industrial and agricultural sectors, Soundararajan said.