Permionics Membranes Private Limited

Membrane companies find suitors overseas  [16-JUL-09]

Mumbai, Dec. 23: Many multinational companies are now eyeing a substan- tial stake in the Indian me- mbrane technology firms. According to Bangalore- based scientist and Permio- nics Membranes India Ltd director Satyajit Mayor, “The usage of various types of Indian membranes in the area of aqueous separation has helped the foreign com- panies to lower their opera- tional costs by around 10 to 15 per cent.” Since 1976, he said the Indian membrane technolo- gy units have been regular- ly catering to the needs of overseas companies operat- ing in specialised sectors like dairy products, colour dyes, pharmaceuticals and biotechnology in regions like Europe, North Ameri- ca, Japan and Middle East. Most of the reputed mem- brane units in India are closely held companies, promoted by engineers and scientists in the period between 1970 and 1980. “The entrepreneurs, most of whom were educated in Oxford or Cambridge, have been approached by foreign private equity players, ven- ture capitalists and many multinational companies for acquisitions or with equity participation propos- als,” the director said. “Earlier, the membrane companies used to get one or two inquiries in a year for investnment. Now, we get at least four to five inquiries in a month from the overseas firms. I foresee a huge influx of foreign funds getting invested in the Indian membrane sector in the next fiscal,” he added. The cumulative turnover of all Indian membrane technology companies is estimated to be around Rs 4,000 crores per annum and the sector is growing at over 15 per cent.