Noida headquartered Suvidha Engineers India Private Limited (Suvidha), a company incorporated in 1983 under Indian companies’ act has agreed to an acquisition by Shinryo Corporation (Shinryo), a leading company in HVAC/MEP Installation/ Engineering from Japan founded in 1956, in the form of 100% company share transfer by all the shareholders, announced the company in a press release to IndianWeb2.com. HVAC, short for Heating, Ventilation, and Air Conditioning, is the technology of indoor and vehicular environmental comfort.
The acquisition deal has been concluded and signed recently. Suvidha officially became part of Shinryo Group, JAPAN as of 1st October 2018. Accordingly, it changes its name to Shinryo Suvidha Engineers India Private Limited (Shinryo Suvidha).
Shinryo,’s revenue stood at 241,100 million Yen or Rs. 15,000 crores with 5100 plus employees worldwide at the end of September 2017, with operations across Japan, Hong Kong, Thailand, Singapore, Vietnam, Malaysia and the Middle East.
With the synergies of the Shinryo Group with a large footprint and a strong track record globally, along with the inherited brand of SUVIDHA, which has built a reputation for itself in India over the last 35 years, the new company shall aim to undertake large scale engineering and infrastructure projects, leveraging its proven expertise to avail opportunities provided by India’s dynamic economic development.
Mr. Takeshi Kagami, President, and Mr. Yasunori Inoue, Representative of India Liaison Office, Shinryo Corporation, appointed as Joint Management Director at Shinryo Suvidha, said, “We believe the newly merged company presents a good example of the growing India – Japan ties, which will contribute to India’s growth through development of infrastructure, support to the ‘Make in India’ initiative and CSR activities in relevant fields.”
Mr. Suresh Virmani, Board Chairman, Mr. Ashok Virmani, Managing Director, Suvidha said, “In a first in the area of Electro-Mechanical engineering, the newly formed Indian International Corporation would be well positioned to bring fresh insights and excellence to large scale infrastructure projects in India, bringing them at par with projects being executed in developed countries.”