NORMA Group has recently announced that the acquisition of Kimplas Piping Systems Ltd. ("Kimplas") has been successfully closed. On April 6, 2018, the Company signed an agreement to acquire 100 percent of the shares in Indian water management specialist Kimplas. NORMA Group expects the acquisition of Kimplas to contribute approximately EUR 10 million to sales in 2018. Kimplas will now be immediately consolidated. The acquisition was financed through existing long-term bank loans.
"The acquisition of Kimplas will see NORMA Group expand its water management portfolio and strengthen its position in Asia," said Bernd Kleinhens, Chairman of the Management Board of NORMA Group. "Along with electro mobility, water management is one of the future-oriented markets in which we would like to continue growing for the future."
Based in Nashik in Western India, Kimplas has been developing and producing thermoplastic connection solutions since 1996, including compression fittings, sprinklers and drippers as well as valves and filters. The company has about 690 employees. Kimplas' certified products are used in drinking water treatment and in supplying drinking water and gas to households, as well as in water-saving micro-irrigation systems for agriculture. Its products are sold primarily in India and other Asian countries. In the past fiscal year (04/01/2017 to 03/31/2018), Kimplas generated preliminary sales of around EUR 21 million.
Targeted acquisitions contribute to diversifying business activities and strengthening the growth of NORMA Group. Acquisitions are therefore an integral part of its long-term growth strategy. Since its IPO in 2011, the Group has acquired a total of 14 companies.
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