Acquisition Martin Engineering Announces Acquisition of Clean Cat Conveyors
Martin Engineering, a global supplier of systems and services for the handling of bulk materials, has recently aquired the Indian manufacturer of conveyor components and systems Clean Cat Conveyors of Goa, India. Martin Engineering sees the acquisition as another step in its expansion into India.
Neponset, Illinois/USA – The purchase of Clean Cat Conveyors follows closely on the heels of Martin Engineering’s announcement of the opening of a business unit India this February. The company's Indian managing director Jibananda Samal, formerly of Larsen & Toubro, will lead combined operations.
“This acquisition is a rapid entry to the important India marketplace with Clean Cat’s existing and loyal customer base,“ said Ron Vick, Chief Financial Officer for Martin Engineering. “This will provide a firm basis to further establish our rapidly-growing Martin Engineering India.”
The acquisition of Clean Cat Conveyors was finalized on the fifth of April 2011, the purchase price was not disclosed. During the transition, Pranesh Dhond, former owner of Clean Cat Conveyors, will assist in the introduction of Martin Engineering products to the Indian market.
Clean Cat Conveyors is a manufacturer and supplier of steel conveyor idlers, belt cleaners, vulcanizing machines, sealing and skirtboard systems and other conveyor accessories. The Clean Cat Conveyors facility in Goa will operate as a branch of the Martin Engineering India operation, and continue to offer products through its existing sales channels.