Air compressor producer Elgi Equipments has ventured into vacuum-pump business by coming into into partnership with Italy-based D.V.P. Vacuum Technology to fabricate, assemble, take a look at, and promote D.V.P.’s vacuum merchandise in India.
Jairam Varadaraj, Managing Director of Elgi, instructed The Hindu on Friday that vacuum pumps might be a separate vertical now for the corporate and the pumps might be bought as Elgi’s merchandise. The firm will initially deal with high-intensity vacuum pump utilizing industries. The Indian vacuum pump market is valued at $150 million to $200 million. Elgi aspires to realize 10% of the market share within the subsequent three to 4 years and can have presence throughout your complete vary of vacuum pumps. “It is now time to incubate the business in India and over a period of time, take it to the global level,” he stated.
“This is a strategic move to expand our product portfolio, extend our reach in high-growth markets, and leverage meaningful technological, manufacturing, and marketing synergies,” he stated in a press launch.
Roberto Zucchini, President and CEO of DVP, stated with the settlement, DVP is coming into the Indian market, leveraging the manufacturing construction and distribution community of Elgi. “There are interesting opportunities for a synergic exchange of components and, consequently, the possibility to empower mutual business development.”
