CRI Pumps opens its sixth subsidiary company ‘CRI Pumps Shanghai Co Ltd’ in China

KOCHI: CRI Pumps, India’s leading pump manufacturer, has opened its sixth foreign subsidiary company ‘CRI. Pumps Shanghai Co, Ltd’, in China. The new company would be fully operational from December 2013. The pump market in China will be worth US$ 8.4 billion by 2015. Around 13.5 Million units of various types of pumps are sold in a year in China for various applications and segments.

Utilizing this opportunity, CRI Pumps would manufacture and market its select range of products in China and aim for a considerable market share. CRI. is the first pump manufacturer from India to have its 100% wholly owned subsidiary company in China, intended for manufacturing and marketing specific products.

CRI will manufacture few select ranges of high end energy efficient pumps in its China facility. Besides the company will also market CRI’s flag ship products, manufactured and developed in India such as the most energy efficient, five star rated pumps in China.

Speaking on the expansion plans in China, Mr.G.Soundararajan, Vice Chairman CRI Pumps said, “CRI is planning to do an investment of about USD 6 Million in China”. He said that the company has targeted a “turnover of around USD 3 Million in the first full fiscal year and are expecting a year on year growth of around 40% to 50% for the next 4 years.”