Coimbatore-based CRI Pumps has signed a business transfer agreement with, UK based Pumps & Process Systems Ltd.
This agreement will enable CRI pumps to get into innovative technologies in delivering industrial pumping solutions such as pulp handling, slurry handling and chemical handling for a variety of industries such as paper mills, metals & mining, power, coal,
food & beverages among others.
The company does not wish to disclose consideration for the deal.
Speaking to Business Line about the acquisition, Chaitanya Koranne, said that CRI had taken over a part of Pumps & Process Systems’ business. By transferring the business to CRI, Pumps & Process systems ceases to own any technology, assets and rights to produce these pumps, he said. CRI will manufacture these pumps in India.
Asked if CRI Pumps would get into solar-powered agricultural pumps, Koranne said that the company was already manufacturing and exporting pumps powered by solar energy.
“We will soon be coming up with our entire range powered with solar energy in India as well,” he said.