Numeric Power Systems Limited signs agreement to acquire 92 per cent stake in Amex Alloys Pvt Ltd

Numeric Power Systems Limited reported it had signed an agreement for the acquisition of a 92 per cent stake in Amex Alloys Private Limited. The investment sum was however not revealed. Amex Alloys is involved in the manufacture of machined and un-machined carbon steel, alloy steel, stainless steel, nickel alloy and duplex stainless steel castings for industrial valves.

Amex Alloys turnover for fiscal year 2009 was Rs 22 crore including duty and taxes, nearly 25 per cent of which was from exports. Numeric Power Systems is a UPS manufacturer making batteries, inverters, solar power products, LED lighting systems and surge protection devices.

Amex Alloys offers castings to an individual gross weight of up to 1,000 kg and it has an installed capacity of 3,000 tonnes/year. The capacity utilization is 60%.  The firm specializes in gate valve, globe valve, check valve, ball valve, plug valve, knife valve body and components plug valve body and components, butterfly valves, oil field equipments, industrial valves and engineering items.

The strategic value of the acquisition is not apparent. Numeric Power has manufacturing facilities in Salem, Chennai, Puducherry and Parwanoo in India and Colombo (Sri Lanka). Numeric Power Systems Ltd had reported a turnover of Rs 437.83 crore in 2009-10 and Rs 115.83 crore in Q 2 of 2010-11.                          

NUMERIC is powered by an all new-technology which represents years of advancement, towards the goal of positioning the company as the Market Leader and be the single largest source for a wide range of power solutions. The firm is an MNC in the power management solutions arena with a sales and service network in over 220 locations both in India and overseas.

Ever since its advent in 1984, NUMERIC's focus has always been expansion of its offering in quality of products and dedication in service. This has facilitated NUMERIC to carve a niche for itself in the Indian UPS market and has made the brand NUMERIC a legend in the country.

The firm’s research and development activities encourage the creativity with backward integration and feedback mechanism on market trends from all the 220 locations.

Amex alloys specializes in Gate valve, globe valve, check valve, ball valve, plug valve, knife valve body and components plug valve body and components, butterfly valves, oil field equipments, industrial valves and engineering items

8 Dec 2010.