CRI Pumps begins operations in China

CRI Pumps has opened its sixth foreign subsidiary company in China, becoming the first pump manufacturer from India to have its 100 per cent wholly-owned subsidiary there.
"We have opened our sixth foreign subsidiary company 'CRI Pumps Shanghai Co Ltd', in China, which is fully operational from January 2014," a company statement said today.
The subsidiary company is intended for manufacturing and marketing specific products, it said.
CRI will manufacture a select range of high-end energy efficient pumps at its China facility. It will also market the company's flagship products, manufactured and developed in India, such as most energy efficient, five-star rated pumps in China.

CRI China will follow region-wise distributorship policy to cater to all its potential customers, the release added.
"We plan to invest about USD 6 million in China. CRI China would mainly focus on industrial, mining, process industries, pressure boosting systems, building services segments and projects in the first phase," CRI Pumps Vice Chairman G Soundararajan said on the company's expansion plans.

Recently, CRI had acquired the industrial pumps business of UK-based Pumps & Process Systems Ltd and the company is planning to leverage this acquisition in entering China.
"We forecast a turnover of around USD 3 million in the first full fiscal year and are expecting a year-on-year growth of around 40 to 50 per cent in the years to come for the next 4 years," Soundararajan added.

Around 13.5 million units of various types of pumps are sold per year in China for various applications and segments.