SME Times is powered by   
Search News
Just in:   • Petrol, diesel prices unchanged for fifth day in a row  • Tata Group's ready-to-eat food arm to scale up biz  • Banks sanction Rs 1.10L cr loan to MSMEs  • Interest on late payment to MSMEs for GeM purchase: FM  • Jio killer app serves Rs 13,500 p.a. spoiler on Zoom party 
Last updated: 27 Sep, 2014  

Cargotec Transfers its India Engineering Operations to Citec

PR Newswire | 13 Jun, 2014
MUMBAI and VAASA, Sweden: Citec has entered into a long-term partnership with Cargotec, where Cargotec transfers its engineering centre in Pune, India, to Citec. The transaction includes the transfer of Cargotec's current engineering business and its 110 employees from Cargotec to Citec. Cargotec's engineering centre in Pune is involved in engineering projects for the global cargo handling industry. For Citec, the transaction enables a fast growth in India, as well as strengthened engineering competence for the manufacturing industry. The agreement comes into effect as of June 13, 2014.

"Cargotec has sought after an engineering partner in India, and Citec's solid experience and track-record in working globally from India made the decision straightforward. This partnership allows Cargotec better flexibility and efficiency, while simultaneously offering great career opportunities for our 110 engineers in Pune. Our strategic intent is to continue to grow and strengthen the market position of the Hiab, Kalmar and MacGregor businesses in India," says Olli Isotalo, President, Kalmar at Cargotec. 

Citec's global units will provide Cargotec and its business Hiab, Kalmar and MacGregor engineering and project management services, as well as technical documentation services, for their projects worldwide.

"This is a significant step for our operations in India, and it also provides great business opportunities elsewhere. We are ready to serve Cargotec proactively according to our strategic intent, with smart engineering solutions and a wide competence", says Martin Strand, CEO, Citec.

Citec has been present in India for ten years, now with more than 530 employees in total with offices in Mumbai, Chennai and Bangalore. The Cargotec team and office in Pune will become a fully integrated part of Citec's operations as of June 13, 2014.

"We continue to grow as a diverse engineering solutions provider, benefiting from the combined offerings, resources and global footprint of the two companies. Above all, we are pleased to welcome new colleagues on board to Citec, and are proud of the trust that Cargotec shows us via the partnership. We are committed to deliver the highest level of engineering services with flexibility, global and local expertise", says Nasir Mulani, Managing Director, Citec India.

The parties have agreed not to disclose the transaction value.

About Citec

Citec provides multi-discipline engineering and information management services to the Energy and Power industry, and other technology-dependent industries. The number of employees of Citec currently amounts to approximately 1200 and the turnover for 2013 was about 70 million euro. Citec is headquartered in Vaasa, Finland, and has offices in Finland, India, Sweden, the UK, France, Germany, Russia and Singapore.

http://www.citec.com

For more information, please contact:
Nasir Mulani, Managing Director, Citec Engineering India Pvt.
Mobile: +91 98 20 400416
E-mail: nasir.mulani@citec.com

Martin Strand, CEO, Citec Oy Ab
Mobile:  +358 40 5714463
E-mail: martin.strand@citec.com

Michael Smirnoff, Director, Group Marketing & Communications, Citec Oy Ab
Mobile: +358 50 464 0656
E-mail: michael.smirnoff@citec.com

SOURCE Citec

 
Print the Page Add to Favorite
 
Share this on :
 

Please comment on this story:
 
Subject :
Message:
(Maximum 1500 characters)  Characters left 1500
Your name:
 

 
  Customs Exchange Rates
Currency Import Export
US Dollar
66.20
64.50
UK Pound
87.50
84.65
Euro
78.25
75.65
Japanese Yen 58.85 56.85
As on 06 Jul, 2020
  Daily Poll
COVID-19 has directly affected your business
 Yes
 No
 Can't say
  Commented Stories
» Starting an import export business: Basic guide for beginners(3)
» Govt. approves subsidy for 2,221 cold storages(1)
» China's forex reserves reach USD 2.85 trillion(1)
 
 
About Us  |   Advertise with Us  
  Useful Links  |   Terms and Conditions  |   Disclaimer  |   Contact Us  
Follow Us : Facebook Twitter