Financial Daily from THE HINDU group of publications
Tuesday, Dec 09, 2003
Financial Daily from THE HINDU group of publications Tuesday, Dec 09, 2003 |
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Corporate
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Outlook Marketing - Outlook Pentair pins hopes on Everpure water filters for more biz P.T. Jyothi Datta
New Delhi , Dec. 8 WATER technology major Pentair Inc's recent global acquisition of Everpure, a water-filtration products company, is expected to have its ripples in the Indian market. With Pentair's products and services covering the industrial and domestic use segments, the acquisition will help the company plug the gap in its product portfolio targeting the commercial segment, said Mr Sanjay Sapra, Director-Sales and Marketing, Pentair Water India. ``Everpure makes Pentair a global leader in the commercial filtration segment, which includes the fast-growing food service and vending market. Pentair India will bring into the domestic market technology and products for food service filtration applications to cater to the food and beverages segment besides focussing on the hotel and restaurant industry. With these segments becoming more quality conscious, the current market, estimated to be about Rs 20 crore, is expected to grow rapidly,'' he said. At present, Everpure products are priced between Rs 5,000 and Rs 50,000. However, Mr Sapra is confident that prices would come down by about 10-15 per cent once production and assembling commences at Pentair's plant in Goa. He expected the new line of business to add about Rs 5 crore to its domestic business. Pentair expects to end the calendar year 2003 with a sales turnover of Rs 90 crore, double last year's sales of Rs 45 crore. The company targets a sales revenue of Rs 150 crore for the year ending December 2004. Meanwhile, Pentair has made progress in taking its products across the country, targeting the domestic segment. Having forayed into the North and nearby regions, the company expects to spread into markets in the South, East and Northeast by the first quarter of 2004, he said.
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