Elgi Equipments is looking at a few acquisition opportunities in its key markets, including the United States, Europe, Australia, and Indonesia.
Addressing the media after launching two products at INTEC 2019 here on Thursday, Jairam Varadaraj, Managing Director of Elgi Equipments, said the focus for the company this financial year will be Europe. “The company’s presence in Europe is primarily in Italy now. We are building a team. We plan to have about 70 people over a period of time (in Europe),” he said. India will continue to be a strategic market for Elgi, he added.
Mr. Varadaraj said Elgi had a strong presence in the SME sector. Now the sector is looking at becoming more energy efficient. One of the products launched on Thursday - the encapsulated screw air compressors with variable frequency drives - will benefit the SMEs. The demand is expected to be strong for the product in the developed countries and there is a growing need for it in the developing markets.
The new range of compressors will address a customer’s varying air flow demands. “Almost 10 % of the total production of energy globally is used by compressors. That can be optimised,” he said.
The second product, which is a heat recovery system, will be useful in industries such as textile processing. There are several applications that use water and compressors and this device can be installed for the needs of such industries.
A press release from the company said its sales teams world over study customer applications and recommend the right size of compressor for maximum energy efficiency.
