Emerson announced it has acquired full ownership of its Fisher Sanmar Limited joint venture from Sanmar Engineering Corporation. The investment expands the capabilities of Emerson Process Management in India. The purchase price was $135 million for the business and additional land.
Terry Buzbee, president of Emerson Process Management’s Fisher business, said the firm has had a very productive partnership with Sanmar. Buzbee reiterated that over the last 18 years, Fisher has established many excellent customer relationships and built a strong foundation. This acquisition strengthens Emerson Process Management’s presence in India and extends Fisher’s ability to serve customers, said Buzbee.
This move is a strong complement to Fisher’s investment at the Fisher Chennai valve engineering and research center, Buzbee said. It also enhances Fisher’s ability to support large, multi-national projects in India as well as in the Middle East and throughout the region, added Buzbee.
Emerson stated that the acquisition further adds to Emerson Process Management’s offering of control valves, industrial regulators and other process technologies and services through the Fisher brand.
The company, expected to be renamed Emerson Process Chennai Pvt Ltd., will expand sales, service and industry coverage of Emerson Process Management in India and the region and strengthen its supply base. Sales of the joint venture in the 2010 financial year were about $40 million.
According to Emerson, over the next 10 years India is expected to add more than 100GW of new thermal generating capacity, and Emerson plans to assign dedicated power-industry specialists to serve this market. Other industries will also receive more focus, more locally made products, and more sales coverage – enabling Emerson to reduce product lead times and improve delivery for Indian customers.
Emerson Process Management, an Emerson business, is a leader in helping businesses automate their production, processing and distribution in the chemical, oil and gas, refining, pulp and paper, power, water and wastewater treatment, mining and metals, food and beverage, life sciences and other industries.
The company combines superior products and technology with industry-specific engineering, consulting, project management and maintenance services. Its brands include PlantWeb™, Syncade™, DeltaV™, Fisher®, Micro Motion®, Rosemount®, Daniel®, Ovation™, and AMS Suite.
Emerson, based in St. Louis, Missouri (USA), is a global leader in bringing technology and engineering together to provide innovative solutions for customers in industrial, commercial, and consumer markets through its network power, process management, industrial automation, climate technologies, and tools and storage businesses. Emerson had 2010 fiscal year sales of $21 billion.
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