Forbes Marshall, a company specialising in process efficiency and energy conservation solutions, plans to acquire companies in the US. |
"We are looking at the potential in various overseas markets including in the USA, the Middle-East and Africa. To tap US market in a more effective way, Forbes Marshall is eyeing an acquisition of a similar entity in the USA," said Deepak Edwankar, director (sales & marketing), Forbes Marshall. |
The Pune-based firm recently set up a fully-owned subsidiary in Sri Lanka. |
"We may also expand our activities in Bangladesh which is an important location for companies like us that working for the process industry, mainly in the textile sector," he added. |
Edwankar, who was in Ahmedabad to attend a Confederation of Indian Industry (CII) energy workshop, said the company is working on options to tap the textiles sector in Pakistan. "Pakistan's textile industry has immense potential and a number of mills are looking at energy conservation to cut costs," said he. |
In the domestic market, Forbes Marshall hopes to capture at least 10 per cent of the Rs 4000 crore market for energy conservation solutions. |
With the open market regime to be introduced from January, textile companies are gearing up for cost-effective production strategies. Moreover, several pharma, edible oil and paper companies have started working on energy conservation options, Edwankar said. |
The company is also targeting substantial returns from energy audits, where services include consultation, audit, analysis, implementation and performance monitoring. |
Forbes Marshall reported a turnover of Rs 175 crore in last fiscal year. It expects to reach Rs 225 crore this year. It has two manufacturing facilities at Pune and one at Hyderabad. The company also has a significant presence in Gujarat. |