Coimbatore-based EKKI Pumps has acquired Deccan Pumps, which is a leading manufacturer of openwell submersibles.
According to a press release from the company, the EKKI group will now have two companies - EKKI Pumps and Deccan Pumps and two brands of pumpsets - EKKI and Deccan. EKKI will invest at the Deccan facilities, too, to increase production capacities.
The organised pump market is expected to reach Rs. 13,410 crore by 2018 and the group’s total share in this is now less than one per cent. It plans to capture five per cent market share in specific product segments in the next four to five years.
The company is looking at generating Rs. 50 crore revenue in the next three to four years from vertical openwell submersibles and palns to increase the total production capacity of the group by about 25 per cent, said Kanishka Arumugam, director of EKKI.
The group has an international division and is looking at getting seven per cent to 10 per cent revenue from outside the country by 2020 and will be a producer of the entire pumping system.
