CRI Pumps acquires U.K. firm

CRI Pumps, a Coimbatore-based manufacturer and exporter of pumps, recently signed a business transfer agreement with Pumps & Process Systems of the U.K.

Chief Executive Officer of CRI Chaitanya Koranne told The Hindu here on Wednesday that CRI would shift the industrial pumping solutions manufacturing facility of Pumps & Process Systems in the U.K. to Coimbatore soon. “We are setting up a greenfield facility here and the manufacturing plant in U.K. would be shifted to this facility in four to six months,” he said. Manufacturing at the new plant on a large scale was expected to commence in the last quarter of this financial year or the beginning of next year.

CRI Pumps’ annual turnover in 2011-2012 was Rs. 850 crore, which was expected to increase to Rs. 1,000 crore this year.

Nearly 20 per cent of the turnover last year was from exports and it was expected to go up substantially with the acquisition of the U.K. company.

Pumps and Process Systems had a strong presence in sectors such as mining and CRI would be able to tap the opportunities in these areas. “The new initiative would enhance the prospects of meeting industrial demands, both in India and abroad,” he said.

Vice-chairman of CRI Pumps G. Soundararajan said in a release that the company had plans to enter into production of a variety of pumps for different industrial applications. It was already catering to general water supply, power, petrochemicals, cements, metal and the mining industry.