M&A in Automation Pepperl+Fuchs Acquires Indian Explosion Protection and Safety Specialist
Pepperl+Fuchs Group (P+F) has acquired Petroleum Safety Products Industries (PSP), formerly known as Govanlndustries Limited, situated in Chennai, south of lndia in June 2015 as a further step towards its future vision of becoming a major player into the Electrical Explosion Protection arena and thereby increase the market share in the entire Process Automation business in the Country.
Chennai/India – Further to the acquisition of Govan Australia in 2012, PSP was functioning as a "Contract PartsSupplier" of aluminum, SS, GRP junction boxes. With this acquisition, P+F now owns all required infrastructure like foundry, fabrication, powder coating, electro-polish and assembly facilities to produce all types of Electrical Explosion Protection Equipment required for industrial and hazardous area applications under the world renowned "GOVAN' brand.PSP Industries is today one of the most sought after flameproof/Weather Proof product manufacturing company in India having end to end operations with products aligned to ATEX/IEC Ex standards. Statutory approvals for products like CIMFR, CCOE, ETDC etc. are also available.
The facility has been formally inaugurated on 3rd Aug ‘15in the presence of important Customers, Well-Wishers and staff by Mr. Michael Fuchs, share- holder of Pepperl + Fuchs GmbH. Mr. Shane Parr, the Ex. Vice President of Pepperl+Fuchs Asia Pacific was also present during this occasion.
Speaking on the occasion, Mr. Michael Fuchs, said, “We plan for expansions in the Indian market as it isstill the most emerging market in the world. He congratulated the Indian team’s success so far from its inception in 1998 and expressed confidence in the growth pattern planned for India.
Mr. Thampy Mathew, Managing Director (Pepperl+Fuchs India & PSP Industries ) said, “With the current Indian business environment and focus on “Make in India” campaign, we would like to develop this new acquisition to cater Global requirements of the group with high Quality EEP Products &Solutions, besides the thrust within the Indian market.” With this acquisition P+F becomes the ONLY Company in India, who can supply the entire range of Explosion Protection Equipment for Industrial Applications in Intrinsic Safety (Exi), Purge (Exp), Encapsulation (Exn), Increased Safety (Exe) and Explosion proof ( Exd).