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CS Software to enter thermodynamics space
By siliconindia
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Tuesday, 08 January 2008, 20:30 IST
Hyderabad: Hyderabad based CS Software enterprise, a provider of support processes, engineering and IT services, plans to enter the thermodynamics space. The company plans to attain the goal through strategic joint ventures with leading companies in the U.S. reported the Business standard.
"Thermodynamics offers higher value of services and more realization. Moreover, there are only a few players operating in this space. We are looking for long-term binding with potential partners, who have a proven track record in the area, to add impetus to our plans to move up the value chain in the aerospace domain. We are currently studying a couple of companies and should be foraying into this arena within a year," Ravi Vishnu, Chairman and MD, CS Software, told Business Standard.
The company had recently acquired 51 percent stake in Reps Resources, a U.S. based firm, which serves the industries in the aerospace sector. The deal was for about $300,000 (around Rs 1.4 crore) through a mix of debt and internal accruals.
As a result of the acquisition around eight clients of Reps Resources in the aerospace sector into CS Software's fold.
"The majority stake acquisition in Reps will provide us an effective route to expand our footprint in the U.S. market along with technical expertise, besides enabling us to offer a significant cost advantage by bringing more work to India. With this acquisition, we are also planning to focus on minor players to offer services, including manufacturers of chartered planes in the U.S. and Canada," he added.
The company had recently bagged orders from Safran Group, a leading French company, a supplier of jet engine test cells, data acquisition and control systems and jet engine test equipment.
According to Vishnu, the company forecasts around 75 percent growth in revenues this financial year, compared with Rs 14 crore last year. "This is expected to be mostly driven by the increasing inflow of orders to our existing divisions including the utilities services for the power sector," he added.
