Japanese engineering firm Taikisha taking over Indian clean room panel maker
NEW DELHI, NNA – Taikisha Ltd., a Japanese engineering firm, will take over an Indian clean room panel maker in a bid to cash in on growing local demand from the local pharmaceutical industry.
The company said last Wednesday it will acquire a 74 percent stake in Nicomac Clean Rooms Far East LLP for 3.189 billion rupees ($42.7 million) on Friday and change the form of the entity into a stock company.
The Tokyo-listed firm, which is engaged in installing equipment for air ventilation, clean rooms, water supply and drainage, expects a rise in demand for clean rooms in India, aiming to provide expertise in design and installation of clean rooms as well as air ventilation with the acquired firm, as Nicomac has drug makers as major clients, a spokesman told NNA.
The Hyderabad-based firm, established in 2011, designs, produces and installs panels for clean rooms. It posted 1.712 billion rupees in sales in the year through March 2019, according to Taikisha’s statement.
The 107-year-old Taikisha has global operations in the Americas, Europe and Asia, including supplying painting facilities to carmakers through two companies in India – Taikisha Engineering India Pvt. Ltd. and Geico Paint Shop India Pvt. Ltd., according to the spokesman.