Ekki Pumps in Coimbatore will soon enter into a partnership with a European pump major to make and distribute pumps for industrial applications in India and neighbouring countries.
The European company specialises in industrial application pumps and has been looking for partners in India, said Kanishka Arumugam, director, Ekki Pumps, without disclosing the name of the prospective partner.
‘10-country target’
Ekki, which makes pumps for building services, agriculture and public utilities, set up Ekki International last year and aims to be present in 10 nations within three years. With the partnership, which will be a long-term joint venture with equal equity from the two firms, a new facility will be set up in India and the investments are expected to be made from the next financial year.
“We are looking at Tamil Nadu, Andhra Pradesh, Telangana and Gujarat for possible locations for the plant,” he said. The European major plans to invest ₹150 crore in the next two to three years globally for expansion and a substantial portion will be in India, he said.
For the Ekki group, the joint venture is expected to double the revenue in another 4-5 years. The two companies have set up a 20-member product development team. The letter of intent will be signed next week, Mr. Arumugam said.
Ekki has 500 dealers in 10 States for its existing range of pumps. The new venture will have a new set up for distribution. “At Ekki, we want to grow through strategic alliances and competitive collaborations,” he said.
