voestalpine Expands Welding Technology Business with Acquisition in India
01/09/2014 - The voestalpine Group is continuing to push forward with its internationalization strategy by acquiring the Indian company Maruti Weld Ltd., headquartered in New Delhi.
The company, which specializes in manufacturing welding electrodes, currently has 180 employees; in 2012, it generated annual revenues of € 6.7 million. For voestalpine, this acquisition represents yet another expansion of its product portfolio in the welding technology segment.
Specifically, voestalpine Böhler Welding Group GmbH, which is part of the Metal Engineering Division of the voestalpine Group, is taking over the Indian manufacturer that specializes in welding electrodes. With an annual capacity of 20,000 tons of high-quality rod electrodes and a similar production volume of cored wire, Maruti Weld Ltd. is among the top 10 companies on the Indian welding technology market.
The welding technology specialist, who has state-of-the-art facilities, will provide voestalpine with an outstanding, regional production base. “In accordance with our long-term growth strategy, with this acquisition and its local production operations we are accelerating the penetration of the Indian growth market; our focus will be on the energy segment,” says Franz Kainersdorfer, Management Board member of voestalpine AG and head of the Metal Engineering Division. With this acquisition in India, the Group is once again extending its value chain down to the end customer. “It is absolutely necessary for us to have a local production presence in order to have a competitive product portfolio and to be able to develop as a one-stop provider on the welding consumables market,” Kainersdorfer stated.
The voestalpine Metal Engineering Division’s specialization is reflected in its business units Rail Technology, Wire Technology, Tubulars, Turnout Systems, and Welding Consumables. It is the global market leader in turnout technology and the European market leader in rail technology as well as one of the leading providers of welding consumables, seamless tubes, and high-quality wire. The most important customer segments are the railway, automotive, and energy sectors. In the business year 2012/13, the division and its Steel, Rail Technology, Wire Technology, Tubulars, Turnout Systems, and Welding Consumables business units generated revenue of more than € 2.9 billion, of which 40% was generated outside of Europe. The division, with its approximately 10,400 employees, reported an operating result (EBITDA) of € 435 million.
Specifically, voestalpine Böhler Welding Group GmbH, which is part of the Metal Engineering Division of the voestalpine Group, is taking over the Indian manufacturer that specializes in welding electrodes. With an annual capacity of 20,000 tons of high-quality rod electrodes and a similar production volume of cored wire, Maruti Weld Ltd. is among the top 10 companies on the Indian welding technology market.
The welding technology specialist, who has state-of-the-art facilities, will provide voestalpine with an outstanding, regional production base. “In accordance with our long-term growth strategy, with this acquisition and its local production operations we are accelerating the penetration of the Indian growth market; our focus will be on the energy segment,” says Franz Kainersdorfer, Management Board member of voestalpine AG and head of the Metal Engineering Division. With this acquisition in India, the Group is once again extending its value chain down to the end customer. “It is absolutely necessary for us to have a local production presence in order to have a competitive product portfolio and to be able to develop as a one-stop provider on the welding consumables market,” Kainersdorfer stated.
The voestalpine Metal Engineering Division’s specialization is reflected in its business units Rail Technology, Wire Technology, Tubulars, Turnout Systems, and Welding Consumables. It is the global market leader in turnout technology and the European market leader in rail technology as well as one of the leading providers of welding consumables, seamless tubes, and high-quality wire. The most important customer segments are the railway, automotive, and energy sectors. In the business year 2012/13, the division and its Steel, Rail Technology, Wire Technology, Tubulars, Turnout Systems, and Welding Consumables business units generated revenue of more than € 2.9 billion, of which 40% was generated outside of Europe. The division, with its approximately 10,400 employees, reported an operating result (EBITDA) of € 435 million.
