MAN Diesel & Turbo SE (MDT) has acquired all the shares of MaxWatt Turbines Pvt Ltd — an Indian company specialising in the design, manufacture and service of steam turbines for power generation and mechanical drives. MaxWatt will be integrated into the Turbo business of MDT, and the new entity will operate under the name MAN Turbomachinery India
Pvt Ltd.
Uwe Lauber, MDT’s CEO and chief sales officer, said: “MaxWatt is a well-established player in the Indian and Asian power generation business, in the lower power segment. This acquisition expands our portfolio and adds steam turbines for numerous standard applications to our existing high-end product range. At the same time, we gain access to new customer groups and market segments.
“There are close to zero overlaps in the product ranges, which is why this is an excellent match for us.”
Established in 2003 and based in Bangalore, MaxWatt employs more than 150 people. It has installed hundreds of steam turbines and caters for a world-wide customer base.
Its product range will be fully integrated into MDT’s portfolio after the merger, and the workforce in India will increase to more than 650.