Kanadevia's European subsidiary Kanadevia Inova acquired an Indian engineering company and will pursue new market development from a base in the Indian market. It aims to expand into the Middle East, Africa and other regions by leveraging the acquired company's design services and supply chain in the energy and chemicals sectors.
Kanadevia Inova, the European subsidiary of Japanese company Kanadevia, acquired an Indian engineering company. The purchase price was not disclosed, and the acquisition is intended to establish a foundation in the Indian market.
The acquisition target was based in Chennai and provided design services in the energy and chemicals sectors. The company has indicated plans to leverage its engineering capabilities and supply chain following the acquisition.
The acquisition is expected to enable the company to develop environmental businesses in the Middle East, Africa and other regions, while also serving as a base for market development in Southeast Asia and elsewhere.