Murugappa Group to enter into a JV with Organo Group of Japan
To provide water treatment services to industrial sector
Chennai, 05 August 2015 : The Chennai-based INR269 Billion Murugappa Group today announced that it will enter into a Joint Venture agreement with Organo Corp of Japan, a leading player in the water treatment engineering services.
The Joint Venture in India will be between Organo Group of Japan, and Polutech Limited of the Murugappa Group. Organo Group will hold 49% of this JV, and the remaining portion will continue to be with the Murugappa Group. The joint venture will target the emerging needs of industrial water treatment requirements of the growing manufacturing sector in India.
Speaking about the venture, Mr MM Murugappan, Vice Chairman, Murugappa Group said “We are encouraged by the increased industrial activity in the country which has been buoyed by the philosophy of ‘Make in India’. Our services will fit the critical link in the process chain of industrial water usage – both in the input side and in the waste water segments. With water security becoming the critical need of Industrial Units, we expect this tie up to address the growing demand of industries to recycle and re use of water.”
Polutech is a leading player in the water treatment engineering services in India. Polutech manufactures equipment and designing systems for water and waste water treatment plants. It is a complete turnkey solution provider, from concept to commissioning, in raw water & effluent treatment systems. Polutech’s strength lies in its knowledge base and experience garnered by executing numerous projects over 30 years, with capacity ranging from 20 cum/day to 30000 cum/day, across industries like Sugar, Pharma, Food & Beverage, Leather, Textile, Chemical etc. The company also offers total water management solutions and operation & maintenance services
Organo is a leading general water treatment engineering company that provides water treatment systems and chemicals to a wide range of industries. It is headquartered in Tokyo, Japan. Organo operates three primary businesses – sales of water treatment systems, maintenance and management of delivered systems, and sales of standard products and chemicals. Organo’s turnover in FY 14 was INR 35 billion (68741 million yen).
About Murugappa Group
Founded in 1900, the INR 269Billion Murugappa Group is one of India’s leading business conglomerates. The Group has 28 businesses including nine listed Companies traded in NSE & BSE. Headquartered in Chennai, the major Companies of the Group include Carborundum Universal Ltd., Cholamandalam Investment and Finance Company Ltd., Cholamandalam MS General Insurance Company Ltd., Coromandel International Ltd., Coromandel Engineering Company Ltd., E.I.D. Parry (India) Ltd., Parry Agro Industries Ltd.,Shanthi Gears Ltd., Tube Investments of India Ltd., and Wendt (India) Ltd.
Market leaders in served segments including Abrasives, Auto Components, Cycles, Sugar, Farm Inputs, Fertilizers, Plantations, Bio-products and Nutraceuticals, the Group has forged strong alliances with leading international companies like Groupe Chimique Tunisien, Foskor, Mitsui Sumitomo, Morgan Crucible and Sociedad Química y Minera de Chile (SQM). The Group has a wide geographical presence spanning 13 states in India and 6 continents.
Renowned brands like BSA, Hercules, Ballmaster, Ajax, Parry’s, Chola, Gromor and Paramfos are from the Murugappa stable. The organization fosters an environment of professionalism and has a workforce of over 32,000 employees.