ELGi announces multi-year technology licensing agreement with D.V.P. Vacuum Technology S.p.A.
Telugu super news,India, February 21, 2024: Elgi Equipments (B.S.E.: 522074 NSE: ELGIEQUIP), one of the world’s leading air compressor manufacturers, today announced its partnership with D.V.P. Vacuum Technology S.p.A., Italy, to manufacture, assemble, test, and sell D.V.P.’s proprietary vacuum products in India. With this agreement, ELGi will expand its product portfolio to include vacuum products. D.V.P. Vacuum Technology S.p.A., a manufacturer of vacuum pumps, will benefit from ELGi’s robust manufacturing capability and extensive sales and service presence in India to gain access to the fast-growing Indian market. The global vacuum pump market has witnessed continuous growth in the last few years and is estimated to be 6-7 billion USD in 2024.
“Vacuum is synergistic and adjacent to compressed air, with profitability comparable with air compressors. This is a strategic move to expand our product portfolio, extend our reach in high-growth markets, and leverage meaningful technological, manufacturing, and marketing synergies. We will first incubate the business in India and then expand globally. We’re proud to partner with D.V.P. Vacuum Technology, a family-owned company that has been in the vacuum business since 1973. The team at D.V.P. shares our values, and their products are renowned for performance and quality,” remarked Dr. Jairam Varadaraj, Managing Director, ELGi Equipments Ltd.
Roberto Zucchini, President and C.E.O., D.V.P. Vacuum Technology S.p.A., commented, “This agreement will allow D.V.P. to enter the very competitive Indian vacuum market leveraging the manufacturing structure and distribution network of Elgi. Furthermore, there are interesting opportunities for a synergic exchange of components and, consequently, the possibility to empower mutual business development.”
For over 60 years, ELGi’s pioneering products and compressed air solutions have served various applications across industries ranging from manufacturing, food and beverage, construction, pharmaceuticals, and textiles in over 120+ countries. Powering a 400+ product-strong portfolio, ELGi’s state-of-the-art global manufacturing facilities, spanning three continents, are committed to carbon neutrality, water conservation, and circular waste management.
