Founded in 1978, Milan-based FIPS specialises in waste and sewage water pumps.
CRI Pumps vice chairman G Soundararajan said: “With the acquisition of FIPS Italy, CRI will be launching the complete range of sewage and waste water pump solutions in India using the technology transfer advantage from FIPS Italy. CRI with its strong manufacturing and R&D capability, will be able to offer world class technology to meet the growing industry demands”.
Orfeo Agostini, managing director of Fabbrica Italiana Pompe Sommergibili, said: “With the takeover of the company by CRI, FIPS can further invest in new product developments to grow the global business while improving the profitability, by reducing costs through integrating the supply chain, making the products cost effective. We are excited by the advantages we will gain by bringing together two teams with shared values and a commitment to quality, performance and customer satisfaction.”
The current FIPS management team will continue to manage the operations of the company.
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