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CIRCOR India acquires Mazda Ltd's valves division

BS Reporter  |  Mumbai/ Ahmedabad 

A valve design, development and manufacturing company, Flow Technologies India Private Ltd (India), has acquired the valves division of Ahmedabad-based Ltd., a manufacturer of severe service control valves and vacuum systems in an all-cash transaction.

The acquired operation, terms of deal of which were not disclosed, will be integrated into India’s flow technologies segment.

India, a wholly owned subsidiary of International Inc., anticipates that the acquisition will be accretive to earnings on a basis in the first 12 months of combined operations. Almost a year prior to the acquisition, Mazda's valves division generated revenues of approximately $ 3.2 million (Rs 16.30 crore).

"This acquisition provides with greater access to the steadily growing Indian power generation industry and broadens our product offering with a suite of severe service control valves," said Bill Higgins, chairman and CEO of India, in a press communiqué.

International Inc., was established in 2009 to capitalize on the rapidly growing market opportunities in India within the oil and gas, power generation, and Industrial segments. India is actively engaged in expanding its supplier and customer base as a valve design, development and manufacturing company.

"Just over a year ago we incorporated our subsidiary in India and have been steadily building an engineering, sourcing and sales organization. is another great milestone in our commitment to expanding in emerging markets. The Country Manager for India, Sriram Natarajan, was actively involved in the acquisition and will continue to drive the execution of our globally-proven growth and lean manufacturing strategies in India," Higgins added.

With more than 9,000 customers in over 100 countries, has a diversified product portfolio with some of the leading brands.

First Published: Mon, July 05 2010. 00:42 IST