Bangalore, Sept. 14
ABB announced today that it will acquire Metsys Engineering and Consultancy Pvt. Ltd for about Rs 8.5 crore. The transaction is expected to be completed by the end of September.
Bangalore-based Metsys Engineering and Consultancy, which started in 2006, is a technical solution provider to the steel industry in India and other emerging markets.
Metsys employees and research and development (R&D) capabilities will be integrated into ABB's process automation division. They will join ABB in India to help strengthen the execution and R&D centre for the metals business. This will further help ABB to take advantage of opportunities in the industrial sector in India and surrounding regions, said a release.
“This acquisition will help us to further strengthening our strong position in the metals business and our portfolio in this growing sector,” said Mr Biplab Majumder, Vice-Chairman and Managing Director of ABB in India. “Metsys brings to ABB an outstanding track record in cost effective solutions and execution of metals-related projects.”
ABB is a player in power and automation technologies that enable utility and industry customers to improve performance while lowering environmental impact.