Germany's MAN Diesel acquires steam turbine specialist MaxWatt

Germany’s MAN Diesel & Turbo SE (MDT), a part of MAN Group and a supplier of large diesel engines and turbomachinery for maritime and stationary applications, on June 29, 2015 announced that it has acquired MaxWatt Turbines Pvt. Ltd, the Bangalore-based specialist company for engineering, production and service of steam turbines for applications in power generation and mechanical drives. Post-acquisition MaxWatt will be integrated into the turbo business of MDT and the new entity will operate under the name MAN Turbomachinery India Pvt Ltd.
 
Dr Uwe Lauber, CEO and chief sales officer of MAN Diesel & Turbo SE, “MaxWatt is a well-established player in the Indian and Asian power generation business in the lower power segment. By acquiring them we expand our portfolio and add steam turbines for numerous standard applications to our existing high end product range. At the same time we gain access to new customer groups and market segments. MAN Diesel & Turbo is always interested in M&A projects, if they satisfy a sound strategic rationale. With MaxWatt there are close to zero overlaps in the product ranges, which is why it is an excellent match for us.”
 
MaxWatt employs more than 150 people in engineering, production, sales and service. It has installed a three-digit number of steam turbines in the field and caters to a worldwide customer base. The so far privately owned company has been steadily growing since its establishment in 2003.
 
MaxWatt’s range of products will be fully integrated into MAN Diesel & Turbo’s portfolio after the merger. The workforce in India will increase to more than 650 employees. The MaxWatt headquarters in Bangalore will be MAN Diesel & Turbo’s first steam turbine production site in India.