12.04.2018
NORMA Group SE DE000A1H8BV3
DGAP-News: NORMA Group to acquire water management company in India
DGAP-News: NORMA Group SE / Key word(s): Mergers & Acquisitions
NORMA Group to acquire water management company in India
12.04.2018 / 09:05
The issuer is solely responsible for the content of this announcement.
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NORMA Group to acquire water management company in India
Maintal, Germany, April 12, 2018 - To further expand its market position in
the water management business, NORMA Group signed an agreement to acquire
Kimplas Piping Systems Ltd. ("Kimplas") on April 6, 2018. Kimplas is a
leading Indian manufacturer of joining technology made of thermoplastic
materials. The parties agreed on NORMA Group purchasing 100 percent of the
shares in Kimplas and that they would maintain confidentiality with respect
to the other transaction details. The transaction is expected to close by
mid-2018.
Kimplas is headquartered in Nashik in the West Indian state of Maharashtra.
The company has been developing and manufacturing injection-molded parts,
among other products, since 1996. Its product portfolio includes compression
fittings, sprinklers, drippers, valves, filters and electrofusion parts such
as tapping tees and saddles for gas and water pipes. "It is of existential
importance to provide people with resources such as water and gas," said
Bernd Kleinhens, Chairman of the Management Board of NORMA Group. "We are
expanding our expertise in water management solutions in the fast growing
Indian market by adding Kimplas' leading products to our portfolio. Kimplas'
expertise will help us to drive for instance the usage of efficient
irrigation solutions in markets that are particularly threatened by water
shortage."
The certified products of the company that has about 690 employees are used
in many different ways: they ensure safe and leakage free supply of drinking
water and gas to rural and urban households and provide filtered water for
micro-irrigation systems. Kimplas' customers include export companies, water
supply boards, gas distribution companies in India and abroad,
micro-irrigation companies, building and construction businesses. In
addition, the company distributes plastic pipes and imported fittings as
well as electrofusion welding machines and tools. Kimplas markets its
products mainly to customers in India and has generated preliminary sales of
around EUR 21 million in fiscal year 2018. "NORMA Group is an ideal partner
for us and we look forward to becoming part of it," said Krishen Khanna,
founder and Chairman at Kimplas. "Together we will further expand NORMA
Group's worldwide presence as well as the product portfolio of water
management solutions."
NORMA Group has been expanding into the water management business since 2012
by making select acquisitions in Malaysia, Australia and the US. The company
started operations in India in 2008 with a plant in Pune, approximately 200
kilometers south of Nashik. NORMA Group moved its growing operations into a
new facility in 2012 to increase its production capacity. Today, around 190
employees manufacture thermoplastic lines and a variety of clamps for the
automotive market in India at the Pune plant.
Additional information on the company is available on www.normagroup.com.
Press photos are available from our platform on www.normagroup.com/images.
Contact
NORMA Group SE
Alexandra Lipkowski
Group Communications
E-mail: [email protected]
Tel: +49 (0)6181 - 6102 747
About NORMA Group
NORMA Group is an international market and technology leader in engineered
joining technology (joining, connecting and fluid handling technology). The
company offers more than 40,000 products to customers in 100 countries with
around 7,700 employees. NORMA Group helps its customers and business
partners react to global challenges such as climate change and increasing
scarcity of resources. NORMA Group joining products can be found in vehicles
and trains, ships and aircraft, buildings and water management as well as in
applications for the pharmaceutical and biotechnology industry. The company
generated sales of around EUR 1.02 billion in 2017. NORMA Group operates a
global network of 27 production facilities as well as numerous sales and
distribution sites across Europe, the Americas, and Asia-Pacific. NORMA
Group has its headquarters in Maintal, Germany. NORMA Group SE is listed on
the German stock exchange (Prime Standard) and included in the MDAX index.
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12.04.2018 Dissemination of a Corporate News, transmitted by DGAP - a
service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Archive at www.dgap.de
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Language: English
Company: NORMA Group SE
Edisonstr. 4
63477 Maintal
Germany
Phone: +49 6181 6102 741
Fax: +49 6181 6102 7641
E-mail: [email protected]
Internet: www.normagroup.com
ISIN: DE000A1H8BV3
WKN: A1H8BV
Indices: MDAX
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated
Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover,
Munich, Stuttgart, Tradegate Exchange
End of News DGAP News Service
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673825 12.04.2018
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