The US-based Hollingsworth & Vose Company (H&V) today announced the acquisition of Mysore-based Raman FibreScience Pvt Ltd for an undisclosed amount.
Raman FibreScience is a technology and innovation-driven company specialising in wet-laid, fiber-based materials for filtration media and battery separator applications.
Hollingsworth & Vose Company is a global leader in these markets with operations world-wide.
Commenting on the acquisition, H&V CEO Val Hollingsworth in a release said, "Raman FibreScience has a highly professional team with considerable experience in fibre forming technology. They have a unique culture where R&D and manufacturing are highly integrated and they have leveraged this capability to develop and take to international markets some very unique and innovative products."
"For H&V, India represents an exciting market and the RFS Mysore location and team provide H&V a strong, on-the-ground operational base with which to build and grow our India presence."
Aroon Raman, Managing Director of Raman Fibre Science said, "We are both privately held companies with world-class technical capabilities, and a policy of investing in innovation for the long term."
Raman will continue on the board of the acquired company, the release said, adding that the acquisition is effective immediately.