The voestalpine Group is continuing to push forward with its internationalisation strategy by acquiring the Indian company Maruti Weld headquartered in New Delhi. The company, which specialises in manufacturing welding electrodes, currently has 180 employees and generated an annual revenue of EUR 6.7M in 2012. For voestalpine, this acquisition represents yet another expansion of its product portfolio in the welding technology segment.
Specifically, voestalpine Böhler Welding Group, which is part of the Metal Engineering Division of the voestalpine Group, is taking over the Indian manufacturer that specialises in welding electrodes. With an annual capacity of 20,000 tons of high-quality electrodes and flux-cored wire, Maruti Weld 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.
