CRI Pumps completes acquisition of Italian maker of industrial pumps.

Pump manufacturing major CRI Pumps has completed acquisition of Fabbrica Italiana Pompe Sommergibili Srl (FIPS), an Italian company engaged in manufacture of waste water pump technology.

This is the second acquisition for CRI Pumps after the recent acquisition of Pumps & Process Systems Ltd., in UK. This company is engaged in manufacture of industrial pump range, said Soundararajan, the Vice-Chairman of CRI Pumps .

Without divulging the acquisition cost, Soundararajan told Business Line that CRI Pumps would continue to invest further on capacity building and research and development.

'We will look to acquire value added pump manufacturing companies in the developed countries and take both - the inorganic and organic route to grow. We took this decision almost four years back, as the initial investment cost for developing value added pump range is far higher than acquiring an existing unit,' he said, when asked if there were more acquisitions in the pipeline.


HBL