RBatliboi Ltd, one of India's
oldest machine tool and
engineering companies, has
recently announced the 100 per
cent equity acquisition of
Quickmill Inc, Canada, for a
consideration of approximately
Rs 22 crore. Ontario-based
Quickmill Inc is a strong
technology oriented, growing and
profit making machine tool
company. It is a leading designer
and manufacturer of wide range of
large area machining centres for
customers internationally in heat
exchangers,machinery equipment,
aerospace, dies and moulds, bridge
building machinery and
automotive sectors with annual
sales of approx Rs 52 crore.
Quickmill enjoys 75 per cent
market share in the heat exchanger
industry in North America.
Batliboi Ltd, with a gross
turnover of Rs 300 crore is a
leading player in machine tools,
textile engineering and air
conditioning and refrigeration in
India. This landmark acquisition
marks Batliboi Ltd's first foray into
the M&A space as well as a first for
any Indian engineering company
in the machine tool sector.
Commenting on the acquisition
Nirmal Bhogilal, Chairman and
Managing Director, Batliboi Ltd
said, "The acquisition of Quickmill
Inc supports our goal of becoming
an internationally competitive
niche player in our various
businesses. Our strategy is to
support Quickmill's current
management to grow and develop
Quickmill as a separate and distinct
entity leveraging their technology,
strong brand, reputation and
expertise.We plan to reap
synergies through cross
fertilisation of skills, Batliboi's
distribution network and some
cost advantages in India through
component sourcing and detailed
engineering and helping Quickmill
grow internationally. Quickmill will
support Batliboi's manufacturing
base through its considerable R&D
capabilities." Joe Lipsett President
and CEO of Quickmill Inc stated,
"This is a great day for Quickmill
Inc with the capital, engineering,
cost base and added distribution
and service, we can together take
Quickmill to the next level.
Quickmill will be running in its
existing form under the same
brands with our existing successful
team empowered to grow the
company. With added distribution
in India, China and the Middle East
to accelerate our efforts, plus the
addition of Batliboi products to
Quickmill product lines, Quickmill's
growth will really ramp up."
About Batliboi: Batliboi,
founded in 1892, has grown to a
position of leadership among
engineering companies. The
company has spearheaded
technological change in all the
activities comprising of Machine
Tools, Textile Air Engineering,
Textile Machinery and Air
Conditioning. Its plants are located
at Udhna (Surat) and Bangalore.
Batliboi Ltd is a part of Rs 450 crore
Batliboi Group, which also has
interests in environmental
engineering, motors, wind energy,
international marketing
and logistics.
About Quickmill Inc:
Quickmill
Inc is a leading manufacturer of
large area Machine Tools based in
Peterborough, Ontario in Canada.
Quickmill Inc is engaged in the
business of CNC gantry and bridge
milling and drilling machines,
which are used in heat exchangers,
heavy equipment manufacturing,
fabricated steel,machining sectors,
oil and gas, and aeronautical
industries. Established in 1984, is a
technology oriented, growing
company with annualised
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