To focus on oil and gas, chemicals and consumer products in the process industry
Altran India, a wholly-owned subsidiary of $2 billion Altran Technologies of France, has finalised plans to set up a new business vertical.
The new vertical will provide front-end engineering design and detailed engineering solutions for the process industry.
This is in line with the company’s plan to develop manufacturing engineering as a centre of excellence out of India. So far, the company has been providing engineering consultancy in aerospace, automotive and nuclear energy sectors.
“We see this as the right time to make investments for developing capabilities in this domain. We plan to work with a different business model which will drive growth by structuring India both as an independent geography and enabling the group to improve its global competitiveness,” Sanjay Kumar, CEO & Managing Director, Altran India, told The Hindu.
The company planned to focus on oil and gas, chemicals and consumer products in the process industry, he said.
The company was also looking at acquiring a small and two relatively big companies to enhance its capability. “We will close the first acquisition by the end of this month. Due diligence has been competed. All the proposed three acquisitions should be completed by the third quarter. We can also go in for strategic investment in case of need,” Mr. Kumar said.
He said the company would hire about 150-180 engineers this year to add to its present employee strength of 300.