Praj Ind buys US engineering co for Rs 22.5 cr
The Pune-based Praj Industries Ltd on Tuesday said it has acquired the Omaha-based C.J. Schneider Engineering Corporation Inc, with expertise and experience in providing detailed engineering services to the biofuel industry including ethanol plants, in a Rs 22.5-crore deal.
CJS already has contracts on hand from leading ethanol producers for supply of various services, a statement released here on Tuesday said, adding the wholly owned US subsidiary will complement Praj’s own business in the US.
This acquisition will benefit the US customers to get a wider range of services and the company expects enhanced business potential as a result, the statement said. C.J. Schneider employs highly experienced engineering professionals with a collective experience of over 350 man-years, the statement added.
The company has been contracted to supply technology and machinery for seven ethanol plants in the country within six month of its entry into US market.
While two of the contracts based in California, contracts are also now being worked out at Minnesota, Iowa and Missouri. The company is also making inroads into the European market where it has got contracts from Bulgaria and Romania following its arrival in the UK market with a contract for British Sugars.
Praj is a global Indian company that offers innovative solutions to add value in alcohol and brewery technology and related wastewater treatment systems for customers in India and around the world. Praj is positioned as a knowledge-based company with expertise and experience in bioprocesses and engineering. It delivers know how, license, engineering design, plant & equipment, project management, commissioning and customer care and turnkey projects.
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