"WPIL through its 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 WPILs 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 by 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."