Elgi Equipments (B.S.E.: 522074; NSE: ELGIEQUIP), a prominent global air compressor manufacturer, has announced a strategic collaboration with D.V.P. Vacuum Technology S.p.A., Italy. Under this partnership, ELGi will manufacture, assemble, test, and market D.V.P.’s proprietary vacuum products in India. This agreement marks ELGi’s expansion into the vacuum products segment, enhancing its diverse product portfolio.
D.V.P. Vacuum Technology S.p.A., renowned for its vacuum pumps, will leverage ELGi’s robust manufacturing capabilities and extensive sales and service network in India to access the rapidly growing Indian market. The global vacuum pump market has witnessed consistent growth, with estimates projecting it to reach 6-7 billion USD by 2024.
Dr. Jairam Varadaraj, Managing Director of ELGi Equipments Ltd., expressed, “Vacuum technology is closely related to compressed air and offers comparable profitability. This strategic partnership allows us to broaden our product range, extend our presence in high-growth markets, and capitalize on technological, manufacturing, and marketing synergies. Initially, we will focus on incubating the business in India before expanding globally. We are delighted to collaborate with D.V.P. Vacuum Technology, a family-owned business with a rich history in the vacuum industry dating back to 1973. Their products are renowned for their performance and quality, aligning perfectly with our values.”
Roberto Zucchini, President and CEO of D.V.P. Vacuum Technology S.p.A., stated, “This agreement provides D.V.P. with a pathway to enter the highly competitive Indian vacuum market by utilizing Elgi’s manufacturing infrastructure and distribution network. Additionally, there are promising opportunities for mutual business development through component exchange and synergies.”
With a legacy spanning over 60 years, ELGi has been a pioneer in providing compressed air solutions across various industries worldwide, including manufacturing, food and beverage, construction, pharmaceuticals, and textiles. Offering a portfolio of over 400 products, ELGi’s state-of-the-art manufacturing facilities across three continents are committed to environmental sustainability practices such as carbon neutrality, water conservation, and circular waste management.