Woodfield Systems to Invest $100 Mn for Manufacturing in India
03.01.2024 By Tank Terminals - NEWS

March 1, 2024 [Business Line]- The company currently has two plants in Maharashtra and has a third plant under execution which will tentatively be operational in the next 10-12 months.

 

Woodfield Systems International (WSI), a player in the design and manufacture of bulk gas and fluid management solutions has acquired the business of Woodfield Systems Ltd. UK, an engineering and manufacturing business. The company, in a bid to expand, plans to invest $100 million to start manufacturing in India; it will also hire 200 employees over the next 36 months.

This strategic acquisition will see taking ownership of the global business of Woodfield Systems Ltd UK. The company did not reveal the value of acquisition. The synergy between Woodfield Systems UK’s technical mastery and the industry experience of WSI’s leadership team will substantially elevate the company’s offering and its position, across the world, said the company. It is also eyeing more acquisitions in North America and Europe.

Kartik Gala, CEO & Board Member, Woodfield Systems International, said, “This product is highly specialized, and niche with only a handful of global manufacturers, and we would be the sole Indian company producing it entirely within India. We aim to make a world-class product from India for India and the world.”

The company currently has two plants in Maharashtra and has a third plant under execution which will tentatively be operational in the next 10-12 months. It’s clientele in India includes Shell and Indian oil, among others. The investment is in alignment with the spirit of ‘Atmanirbhar Bharat’ – cementing the country’s standing as a global manufacturing and engineering powerhouse, said the company.

The company provides customised solutions for managing safe transfer of bulk fluids and Gas including cryogenic products like LNG & Liquid Hydrogen. Industries that WSI caters to include the oil & gas, petrochemicals, chemical, and aviation sector with the design and manufacture of products & solutions such as Loading & Unloading Arms for Land and Marine Applications, Metering & Process Skids and Safety Access Systems. WSI is headquartered in India, with facilities in Spain, Mexico, Abu Dhabi & USA. The company currently has a global team of over 300 employees.

 

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