Wednesday, April 11, 2007

Mumbai-based machine engineering firm makes Canadian acquisition

Mumbai-based machine tool and engineering company Batliboi Limited has acquired Canadian firm Quickmill, Inc. for an estimated Rs. 22 crores.

This is Batliboi’s first acquisition, the logic behind it being leveraging on Quickmill’s distribution network and research and development capabilities. The acquisition will help Batliboi to establish its presence in North-America where Quickmill enjoys around 75% market share in the heat exchanger segment. The company plans to use Quickmill's distribution network in North America, and utilize its strong R&D capabilities and in turn, conduct detailed engineering for Quickmill's machinery equipment, heat exchangers, aerospace dies and moulds, bridge-building machinery and other Quickmill products in India.

Batliboi primarily manufactures machine tools, specialized machines, textile air engineering machines and air conditioners at its Surat and Bangalore facilities. The company's clients include textile manufacturers, automobile manufacturers and power equipment makers, besides hotels which use its air conditioners and refrigerators.

Read the article in The Economic Times.

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