Industrial products firm WPILLtd on Tuesday (January 7) announced that its European subsidiary, Gruppo Aturia, has acquired 100% shareholding of MISA S.R.L, an Italian company based in Arzignano.
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MISA is a leading Italian company in the business of large pumping station projects and supply of pumps and hydro turbines with a rich heritage dating back to 1901 and a large reference list across Europe and North Africa.
This acquisition further strengthens Gruppo Aturia as a leading European supplier of large pumps and adds pumping station project capability enabling it to provide turnkey solutions.
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Prakash Agarwal, Managing Director, WPIL Ltd, said, “WPIL is excited by this acquisition and the opportunities it provides to offer turnkey project capability across Europe and the MENA region while further strengthening its competencies in the supply of large pumps for water, irrigation and drainage with the addition of an excellent product range and client reference list.”
The transaction consideration has been paid in cash, however, the amount has not been disclosed. The sellers are not a related party.
WPIL is engaged in designing, developing, manufacturing, erecting, commissioning and servicing pumps and pumping systems. The company has construction contracts related to water supply and irrigation.
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It caters to both domestic and international markets. WPIL operates through two segments: Assembled-to-order pumps (ATO) and engineered-to-order (ETO).
Shares of WPIL Ltd ended at ₹719.60, up by ₹21.15, or 3.03%, on the BSE.
(Edited by : Shoma Bhattacharjee)
