MAN Diesel & Turbo to buy MaxWatt Turbines
July 16, 2015 10:22 am
MAN Diesel & Turbo SE, a wholly-owned subsidiary of MAN SE – part of Volkswagen AG – acquires 100 per cent of the shares of MaxWatt Turbines Pvt. Ltd., an Indian specialist company for engineering, production and service of steam turbines for applications in power generation and mechanical drives. After the acquisition MaxWatt will be integrated into the Turbo business of MDT and the new entity will operate under the name MAN Turbomachinery India Pvt. Ltd.
“MaxWatt is a well-established player in the Indian and Asian power generation business in the lower power segment,” says Dr. Uwe Lauber, CEO and Chief Sales Officer of MAN Diesel & Turbo SE. “By acquiring them we expand our portfolio and add steam turbines for numerous standard applications to our existing high-end product range. At the same time we gain access to new customer groups and market segments.”
MaxWatt Managing Director C. G. Venkatesh, who will continue to lead the business, also welcomes the acquisition. He said, “MAN Diesel & Turbo is a global premium brand and leading company in the power generation business. MaxWatt customers all over the world will profit from an extended product range, a worldwide sales and service network and the know-how of a global player, all of which will be gained thanks to this merger.”
MaxWatt’s range of products would be integrated into MAN Diesel & Turbo’s portfolio after the merger. MAN’s workforce in India would increase to more than 650 employees. The MaxWatt headquarters in Bengaluru will be MAN Diesel & Turbo’s first steam turbine production site in India.
MAN Diesel & Turbo already has a significant number of turbomachinery installations in India and runs a service shop for turbo machinery in Vadodara (Gujarat) in addition to an engineering and production centre for large Diesel engines in Aurangabad (Maharashtra), and several sales hubs all over the subcontinent.