Circor India acquires valves division of Mazda
03 July 2010
Circor Flow Technologies India Private Ltd, a wholly owned subsidiary of Circor International, has acquired the valves division of India-based Mazda Ltd, a manufacturer of service control valves and vacuum systems.
The company will integrate the division into Circor's flow technologies segment.
"This acquisition provides Circor with greater access to the steadily growing Indian power generation industry and broadens our product offering with a suite of severe service control valves." chairman and CEO, Circor Flow Technologies India, Bill Higgins, said.
Terms of the deal, which was an all-cash transaction, were not disclosed. Mazda's valves division generated revenues of approximately $3.2 million last year.
Circor India was established in 2009 to capitalise on the rapidly growing market opportunities in India within the oil and gas, power generation and industrial segments.