On January 10th, Fives acquired CBL Combustion Systems Pvt. Ltd., an Indian company specializing in the design and supply of combustion equipment used mainly in the energy (burners for industrial boilers and thermal power plants) and minerals (cement) sectors.
CBL, whose headquarters is located in Mumbai, also has a burner production and assembly workshop located in Vadodara, in the State of Gujarat. The company, which has approximately 100 employees, has a turnover of about USD 5 million (INR 300 million of sales).
CBL, which markets its offer both on the basis of its own technologies and those of Fives Pillard, will change its name regulatory approvals and will adopt the Group’s visual identity.
Through this acquisition Fives Pillard has gained an operational structure in the combustion field in India allowing it to accelerate its development in this high growth market for which a local presence is a key success factor.
This acquisition marks a new stage in the Fives group’s development in India and the growth of its local operational footprint.