MAN Diesel & Turbo SE, a wholly-owned subsidiary of MAN SE (part of Volkswagen AG) has acquired 100% stake in Bengaluru-based MaxWatt Turbines for an undisclosed amount. With the deal, MaxWatt will integrate turbo business of MAN Diesel in India and will operate under the name MAN Turbomachinery India and 150 employees of MaxWatt will be retained by MAN Diesel along with current team. The deal enables MAN Diesel to cater to the Indian market and will also expand the footprint to South East Asia. Founded in 2002, MaxWatt is a manufacturer of steam turbines in the rating of up-to 15,000 KW. It supplies turbines for varied mechanical drive, co-generation or power-generations in configurations which include back pressure, condensing, extraction cum back pressure and extraction cum condensing. The company will cater to turbine requirement of sectors like sugar, biomass, paper, fertilizer and captive power plants and will also continue to export steam turbines from its Bengaluru facility. MaxWatt has an annual capacity to produce 75 turbines per annum.
Source: dealcurry.comDieGermany based Man sel Acquires MaxWatt Turbines
Industry: Manufacturing 2015-11-26
