Maintal, Germany, 17-Apr-2018 — /EuropaWire/ — To further expand its market position in the water management business, NORMA Group signed an agreement to acquire Kimplas Piping Systems Ltd. (“Kimplas”) on April 6, 2018. Kimplas is a leading Indian manufacturer of joining technology made of thermoplastic materials. The parties agreed on NORMA Group purchasing 100 percent of the shares in Kimplas and that they would maintain confidentiality with respect to the other transaction details. The transaction is expected to close by mid-2018.
Kimplas is headquartered in Nashik in the West Indian state of Maharashtra. The company has been developing and manufacturing injection-molded parts, among other products, since 1996. Its product portfolio includes compression fittings, sprinklers, drippers, valves, filters and electrofusion parts such as tapping tees and saddles for gas and water pipes. “It is of existential importance to provide people with resources such as water and gas,”said Bernd Kleinhens, Chairman of the Management Board of NORMA Group. “We are expanding our expertise in water management solutions in the fast growing Indian market by adding Kimplas’ leading products to our portfolio. Kimplas’ expertise will help us to drive for instance the usage of efficient irrigation solutions in markets that are particularly threatened by water shortage.”
The certified products of the company that has about 690 employees are used in many different ways: they ensure safe and leakage free supply of drinking water and gas to rural and urban households and provide filtered water for micro-irrigation systems. Kimplas’ customers include export companies, water supply boards, gas distribution companies in India and abroad, micro-irrigation companies, building and construction businesses. In addition, the company distributes plastic pipes and imported fittings as well as electrofusion welding machines and tools. Kimplas markets its products mainly to customers in India and has generated preliminary sales of around EUR 21 million in fiscal year 2018. „NORMA Group is an ideal partner for us and we look forward to becoming part of it,” said Krishen Khanna, founder and Chairman at Kimplas. “Together we will further expand NORMA Group’s worldwide presence as well as the product portfolio of water management solutions.”
NORMA Group has been expanding into the water management business since 2012 by making select acquisitions in Malaysia, Australia and the US. The company started operations in India in 2008 with a plant in Pune, approximately 200 kilometers south of Nashik. NORMA Group moved its growing operations into a new facility in 2012 to increase its production capacity. Today, around 190 employees manufacture thermoplastic lines and a variety of clamps for the automotive market in India at the Pune plant.
SOURCE: NORMA Group
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