Ebara Corporation hereby announces that its consolidated subsidiary Ebara Indústrias Mecânicas e Comércio Ltda. (“Ebara Brazil”) has entered into an agreement to acquire all of the outstanding shares of Thebe Bombas Hidráulicas S.A. (“Thebe”), a Brazilian company that manufactures and markets pumps in Brazil.
Purpose of the acquisition
Ebara has proactively advance M&A as an effective option to capture growth in the global market, especially in emerging markets, which is one of the core focus in Ebara’s current Medium-Term Management Plan“E-Plan2016”. In particular, expanding pump business in South America has been one of the challenges.
After the acquisition, Ebara will further accelerate the expansion of the pump business in South America with cross-selling of wider portfolio of Ebara Brazil & Thebe’s products and optimizing the production capabilities and sales networks.