Monday, June 18, 2012 12:05 PM
WPIL rises as its arm acquires pump business of PSV South Africa
WPIL is currently trading at Rs. 316.00, up by 4.30 points or 1.38% from its previous closing of Rs. 311.70 on the BSE.
The scrip opened at Rs. 316.00 and has touched a high and low of Rs. 318.95 and Rs. 313.10 respectively.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 348.90 on 08-May-2012 and a 52 week low of Rs. 168.50 on 28-Jun-2011.
Last one week high and low of the scrip stood at Rs. 318.95 and Rs. 306.20 respectively. The current market cap of the company is Rs. 251 crore.
The promoters holding in the company stood at 74.87% while Institutions and Non-Institutions held 0.01% and 25.12% respectively.
WPIL’s - international subsidiary - WPIL International (Singapore) has acquired the pump business of PSV South Africa comprising of 100% shareholding in APE Pumps, Mather & Platt SA, PSV Services SA and PSV Zambia. This acquisition comprising of strong brands like APE / Mather & Platt SA / PSV enhances WPIL’s global footprint further and establishes a strong platform to service the African and Middle Eastern markets. The addition of the APE range of Oil & Gas pumps (API standard) adds to the WPIL product portfolio.
This acquisition would benefit the company with access to the fast growing African economy where economic gains from natural resources have led to increased demand for pumps and systems. The company would leverage the strong market presence of these brands to increase its exports of products and services to the region. Further these strong brands would be taken global through WPILs International network.
PSV Holdings, is a listed company based in South Africa, is a specialized Industrial Engineering Group focusing on pumps, spares, valves, engineering linings, industrial supplies, fuel pumps and dispensers and cryogenics.
WPIL offers system engineering and complete solutions to all kinds of water and waste water handling and transportation needs. The company is mainly engaged into manufacturing of vertical pumps, horizontal pumps, grey iron, castings and sluice valves.