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NEW DELHI: Zetwerk Manufacturing Businesses on Thursday announced the acquisition of three companies, for a total of consideration of ₹100 crore, to strengthen its industrial vertical business in the oil and gas, aerospace, defence, and infrastructure component segments.
It has acquired Pinaka Aerospace Solutions for aerospace and defence manufacturing capabilities, picked up majority stake in SharpTanks, and acquired 100% stake in The Wardha fabrication unit of Wheels India’s.
The acquisition of Pinaka Aerospace brings Zetwerk a portfolio of clients and expertise across a wide range of electronic communication products in the A&D industry, such as radar systems, avionics, radars and other communication devices. It is expected that the addition of new capabilities will help Zetwerk cater to manufacturing needs of established public and private sector enterprises in the country. The company provides communication solutions to Indian defence units, government research facilities like DRDO and ISRO and enterprise clients like Carlisle, Tata, AVTEC, BEL, and HAL, among others.
“The Indian Industrials eco-system, including aerospace and defence manufacturing, has evolved radically, emerging as a strong contender for its global counterparts. However, we believe this is just the beginning, and we are excited to partner with entities that share our vision to drive India’s self-reliance in manufacturing,” said Amrit Acharya, Co-Founder & CEO, Zetwerk Manufacturing Businesses.
The acquisition of Sharp Tanks will increase Zetwerk’s exposure to the oil & gas industry. Sharp Tanks brings in design, fabrication, commissioning of equipment and structural works to serve clients in the oil & gas, petrochemicals, fertilisers and chemicals industries. With this takeover, Zetwerk will become one of the seven companies in the country operating in this space.
The Wardha fabrication unit of Wheels India’s acquisition will allow Zetwerk to tap into a $1.5 billion market comprising the manufacturing of critical fabricated parts for power, roads, and railways.
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