Tatas plan another acquisition
Tata Group company Voltas is in talks with a Singapore-based knowledge process firm for a possible buyout, as it plans to bid for more projects in water treatment space.
By PTI |
MUMBAI: Tata Group company Voltas is in talks with a Singapore-based knowledge process firm for a possible buyout, as it plans to bid for more projects in water treatment space.
Industry sources said Voltas has already zeroed in on a Singapore-based firm and the valuation is about $125-150 million.
When asked about the acquisition plan, Voltas General Manager (Far East and South East Asia) Subhash Pritmani said: "We are in talks with couple of firms... perhaps an acquisition or a tie-up."
On the size of the acquisition, he said: "It would be anything between $20-200 million. We have not yet identified the suitable partner."
Voltas along with United Engineers Singapore Pte Ltd bagged a $200 million contract for water treatment from the Singapore government for the USD 2.2 billion Changi water reclamation plant.
Voltas is providing process mechanical, pipeworks and equipment for the project. The first phase of the project is expected to be commissioned by 2008.
The company intends to bid for such projects in west Asia as well as far east.
The Changi project would enable the company to participate in several water treatment projects across the world as it would make the company qualified to take part in tendering processes, he said.
Voltas provides engineering solutions for heating, ventilation and air conditioning services along with construction equipment, material handling, water management solutions.
Industry sources said Voltas has already zeroed in on a Singapore-based firm and the valuation is about $125-150 million.
When asked about the acquisition plan, Voltas General Manager (Far East and South East Asia) Subhash Pritmani said: "We are in talks with couple of firms... perhaps an acquisition or a tie-up."
On the size of the acquisition, he said: "It would be anything between $20-200 million. We have not yet identified the suitable partner."
Voltas along with United Engineers Singapore Pte Ltd bagged a $200 million contract for water treatment from the Singapore government for the USD 2.2 billion Changi water reclamation plant.
Voltas is providing process mechanical, pipeworks and equipment for the project. The first phase of the project is expected to be commissioned by 2008.
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The company intends to bid for such projects in west Asia as well as far east.
The Changi project would enable the company to participate in several water treatment projects across the world as it would make the company qualified to take part in tendering processes, he said.
Voltas provides engineering solutions for heating, ventilation and air conditioning services along with construction equipment, material handling, water management solutions.
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