CRI Pumps invests $5 million in US, Mexican facilities
Fluid management solutions provider CRI Pumps has invested $5 million (€4.46 million) into facilities in the US and Mexico.
According to CRI Group’s vice chairman, G. Soundararajan, the company has been developing products for these markets for over a decade, with a focus on the US, Canada, Mexico, Central America and the Caribbean.
The investment will see a wholly owned subsidiary established in the US and Mexico, with a facility in the US to assemble a range of products, in addition to supplying groundwater pumping systems, wastewater pumps, and pressure boosting and industrial pumps.
"We have been catering to the US and Mexico markets for over a decade, supplying through distributors,” explained Soundararajan. “By setting up these facilities, we will enhance our technical and application support, reducing delivery lead times and will be able to cater new value-added segments to grow in these markets.
“The products launched in these markets include specialised pumps for mining applications, chemical process pumps, industrial pumps with IoT (Internet of Things) enabled health monitoring systems and encapsulated submersible motors fitted with lightning arrestor which were developed by CRI's R&D wing for the first time in India. The annual turnover expected from these markets in the next three years is $10 million."
The company added that it has made substantial investments in researching the US and Canadian markets, and has gained international certifications that meet US sanitation, food safety and safety standards, including NSF and CSA.