American engineering giant Emerson has acquired Pune-based Ameya Transmissions Gears Pvt Ltd, a manufacturer of gear operators and gearboxes, for an undisclosed amount, the company said in a release.
The deal was routed through its Indian subsidiary Emerson Process Management (India) Pvt Ltd.
“Ameya’s reputation as a quality manufacturer is a great strategic fit for Emerson and strongly complements our actuator business,” said Amit Paithankar, managing director of Emerson Process Management.
“This acquisition strengthens our portfolio with the addition of a strong gearbox product platform that enhances our current solutions capabilities for customers in India and around the world,” Paithankar added.
Founded in 1970, Ameya Transmissions manufactures and supplies gear operators and its products include quarter-turn and multi-turn worm gear operators for valves, declutchable manual override for pneumatic actuator, worm reduction gear boxes for industrial use etc.
US-based engineering giant Emerson has five business segments: process management, industrial automation, network power, climate technologies and commercial & residential solutions. The company recorded sales of $24.5 billion in 2014.
Two years ago Emerson acquired Virgo Valves and Controls Ltd, a manufacturer of ball valves and automation systems. Virgo Valves was the flagship arm of Pune-based Virgo Engineers, which in turn was backed by private equity firm Tano Capital.