WAAREE Group Acquires CESARE BONETTI S.p.A., Italy's Leading Valve Manufacturer

MUMBAI, India, July 4, 2013 /PRNewswire/ --

We are pleased to announce that WAAREE Group, with its headquarters in Mumbai, India has acquired a 100% stake in CESARE BONETTI, etching a new chapter in BONETTI's 108 years of illustrious history.

     (Logo: http://www.newscom.com/cgi-bin/prnh/20120403/523475 )

     (Photo: http://photos.prnewswire.com/prnh/20130704/626325 )

This acquisition brings with it a fresh wave of transformation and global synergies, combining the manufacturing and innovation excellence of CESARE BONETTI with the customer reach, diversity and global reach of WAAREE group.

This development is significant and in line with WAAREE group's constant endeavour to bond with the best in the world in terms of engineering and manufacturing excellence and channelize the technological edge thus available to make it more available and affordable to the customer.

The union also marks a paradigm shift in the manufacturing, sourcing and service philosophy of the group, which, with its newly acquired global reach, will be closer and more accessible to the customer.

WAAREE Group, with its clairvoyance of the global markets, its strong financial, infrastructure, and logistical support coupled with BONETTI's strong innovation, engineering and manufacturing excellence and a century-long learning curve advantage, makes this development very significant for both groups in establishing their footprints on emerging markets and achieving high levels of growth and prosperity in a very short period, of course keeping the customer, his interests and his service on the highest pedestal.

ABOUT CESARE BONETTI

Established in 1905, Cesare Bonetti has evolved over the last century, as a world class manufacturer of critical valves and level gauges. In the last 100 years, BONETTI has grown from strength to strength, slowly spreading its manufacturing footprint across the globe, augmenting its capability as it did so. With the recently established state-of-the-art plant in Karambele, India, BONETTI doubled the manufacturing capabilities, complementing the traditional world-renowned facility at Garbagnate and the strategic manufacturing unit at Suzhou, China. The strategic joint ventures in Germany and Turkey further augment BONETTI's manufacturing spread across the globe. http://www.cesare-bonetti.it/ 

ABOUT WAAREE GROUP

WAAREE is one of India's leading "multi-technology" companies, headquartered in Mumbai. Founded in 1989, Waaree successfully developed cutting edge technologies to become one of the most preferred brands in the field of instrumentation. The company's major business lines are solar energy, industrial valves, petroleum equipment and process control instrumentation. Over the years, WAAREE has rapidly expanded, combining organic growth with selective acquisition policies. The primary objective is to create presences both commercial and technologically advanced in areas of industrial development in the world. Waaree has a presence in over 68 countries. http://www.waaree.com

Contact:

Ajay Mishra
+91-22-66444417
ajaymishra@waaree.com

SOURCE Waaree Group




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