Chloride Group Acquires Custom Power Inc.; 90% Majority Shareholding In DB Power Of IndiaAugust 25, 2009 by Jeff Shepard
Chloride North America, a subsidiary of Chloride Group PLC, announced that it has acquired Custom Power, Inc. based in Houston, Texas.
Custom Power is described as a long established player in the industrial systems market supplying secure power solutions and maintenance services to the oil and gas, petrochemical, energy and industrial sectors in United States and South America. Its current president, Frank Reyna will remain with the business to assist Chloride in strengthening its presence in targeted industrial markets. Reyna will report to Joe Nitiss, President of Chloride North America.
According to Nitiss, Chloride will introduce its world leading Apodys™ PWM UPS technology to Custom Power customers as an enhanced product offering that builds upon the company’s existing product lines.
The Chloride Group also announce that it has acquired a 90% majority shareholding in DB Power Electronics Pvt. Ltd. effective from 20 July 2009.
This follows the establishment of a strategic partnership in 2005 when DB became Chloride’s exclusive partner in India, Bangladesh, Nepal and Sri Lanka. This strategic partnership is described as having been very successful helping DB to generate significant sales growth (from both its own products and those of Chloride) over the last 4 years exceeding INR 250 Crore and employing more than 700 people throughout India.
DB’s newly built manufacturing facilities in Pune and Satara are described as world class and have been supplying product into Chloride’s international sales network for some time in addition to the Indian market, where DB is described as a market leader in high power UPS. Chloride and DB recently opened a new purpose built R&D facility in Pune, India to develop cutting edge technologies and products for the Indian market place, and which will now play a leading role in the development of Chloride Group’s products and services for international markets.