Pooja Heatex announced Joint Venture with Germany based FUNKE WÄRMEAUSTAUSCHER APPARATEBAU GmbH
POOJA HEATEX ENGINEERING inks Joint
Venture with
Germany-based
FUNKE WÄRMEAUSTAUSCHER
APPARATEBAU GmbH
ANOTHER SUCCESS STORY OF
PM MODI'S "MAKE IN INDIA"
' GERMAN ENGINEERING
AT INDIAN PRICES'
by Suman Gupta
Mumbai, 1st
December, 2015 : Surat based Pooja
Heatex Ltd announced a Joint Venture with Germany based FUNKE
WÄRMEAUSTAUSCHER APPARATEBAU GmbH, to manufacture wide range of Plate and Shell / Tube type Heat Exchangers for various domains.
The major focus of the Venture will be to develop and offer a broad portfolio
of quality products to major South Asian and other European clients of Funke present
in India. The collaboration will carry out its manufacturing activities from
the existing plant of Pooja Heatex Engineering , located in Palsana- Surat, Gujrat.
The
deal is structured by ALCOR Mergers and Acquisitions Pvt. Ltd., a portfolio
company of ALCOR Fund, which has seen a huge flow of transactions after the
Make in India campaign by PM Modi. The Venture is in
tune with Heatex’s intent to focus on the customers of FUNKE in India and Asia
to manufacture and supply various Heat
Exchangers & Equipments. The Venture model is proposed to take shape in
two phases
Phase 1 – Collaboration
will kick-start the venture by imparting the training to JVC staff, at FUNKE’s German
facility. Phase 2 – In Phase 2, the Venture
model will take off as a full-fledged joint venture (JV) offering its products
to Indian and South Asian Customers. The JV is proposed to commence post
registration, followed by appointing a dedicated sales team and through
co-branding & advertising, for reaching out to these target markets.
The
model thereby creates a platform to sell high end German Engineered products at
Indian prices”. The new Joint Venture will be titled as ‘Funke Heatex India Pvt. Ltd and would serve the growing demand for Process
equipment in India and globally.
The
Venture is projected to touch sales revenue of more than US$ 75 million from
India in next 5 years. The company will also manufacture in India and sell to
countries in South Asia, Middle East, Africa and to both North and South
America’s and globally target to achieve over 150Mn $sales over 5 years. In
order to set up collaboration, FUNKE Germany will bring the required investment,
which may be in the range of approximately US$
40-50 mn over the next 5 years.
Speaking on the occasion, Thomas Mathew, Director - ALCOR
Mergers and Acquisitions said “ALCOR has
seen India as a great destination to invest and also to bring in a range of
‘cross border’ deals to address growth areas for Indian companies through
technology, investments and new business. This Venture, besides bringing in
foreign earnings for India, will generate revenues for the state and increase
employment for the local population. We are seeing several North American and
European Companies that are planning to come to India and PM Modi’s drive for Make in India is getting fantastic
results. This is just one such example. We would have many more companies
closing M&A transactions, with a lot of inward investments before March 31st
2016”.
Bernd Timmermann – President, FUNKE WÄRMEAUSTAUSCHER APPARATEBAU GmbH while speaking to media at media
conference in Mumbai said “I look
forward to launching the Venture in India to address South Asian customers and
also launch the Joint Venture with Pooja Heatex Engineering to address the high
quality requirements of European companies.”
While addressing the media Arpan Patel - Managing Director, Pooja Heatex Engineering Pvt
Ltd said “This Venture will bring in a range of International customers to Pooja
Heatex Engineering which will support the entire Heatex group to emerge as a global
leader. This Venture will give Funke
Heatex India Pvt. Ltd an edge over its competitors, in this space.”
In brief about FUNKE WÄRMEAUSTAUSCHER APPARATEBAU GmbH - a company incorporated
under the laws of Germany, having its registered office at Hildesheim, Zur Dessel 1, D-31028 Gronau (Leine), Germany. The
company manufacturers and supplies different types of Heat Exchangers
such as Shell and Tube Heat Exchangers, Gasketed Plate Heat Exchangers and Brazed
Plate Heat Exchangers as well as other products such as Oil/Air Cooling Units
and Electrical Oil Pre-heaters. FUNKE serves Plastic Processing Machinery, Compressor,
Chemical, Refining, Pharmaceutical, Process Equipment, Water and Seawater, Shipbuilding
and Food Processing industries.
http://www.funke.de/
About HEATEX
INDUSTRIES LTD - a
company incorporated in India and having its registered office at Block No-346,
Opp. T.M. Patel Processors, Near Palsana Chowkdi, National Highway No – 8,
Palsana, Surat – 395 007 Gujarat, India. Heatex
is engaged in the business of inter alia of designing and manufacturing
different types of process
equipments like Thermic Fluid Heater, IBR Boilers, Fabric Dyeing Machine,
Pollution Control Equipments, Pressure vessels, Reactors, Chemical Plant
Equipment, Heat exchanger, Industrial blowers & Chimney.
About ALCOR
Fund: ALCOR
Fund, a US based private equity fund, through its Indian arm, ALCOR Mergers and
Acquisitions Pvt Ltd offers its fund management services with an investment
range of US$10 million to US$500 million along with an array of investment
banking services. ALCOR M&A extends its dynamic leadership to provide
services to the emerging markets for M&A advisory, cross-border advisory,
buy-side and sell-side advisory, JV advisory and execution, Joint Venture,
management buyouts and Leveraged buyouts as well as Corporate
Finance & Restructuring and Business Growth Consultancy. ALCOR Fund has
several portfolio companies in emerging markets. www.alcorfund.com
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