The company acquired Pinaka Aerospace Solutions for aerospace and defense manufacturing capabilities, bagged a majority stake in SharpTanks to increase Zetwerk’s exposure to the oil and gas industry, and bought a 100% stake in the Wardha fabrication unit of
to tap into a $1.5-billion market comprising the manufacturing of critical fabricated parts for power, roads, and railways.
“Zetwerk and Pinaka have a history of working together. We are confident that our combined capabilities will help shape the aerospace and defense industry as we bring back demand for Indian manufacturing from global original equipment manufacturers (OEMs),” Zetwerk Manufacturing Businesses co-founder and CEO Amrit Acharya said.
“As we scale and expand further, we add more homegrown manufacturing companies into our portfolio.”
The company provides communication solutions to Indian defense units, government research facilities such as the Defence Research and Development Organisation (DRDO) and the Indian Space Research Organisation (ISRO), apart from enterprise clients such as Carlisle, Tata, AVTEC,
, and , among others.
Zetwerk has acquired a majority stake in SharpTanks in a mix of equity and cash. SharpTanks brings in design, fabrication, commissioning of equipment and structural works to serve clients in the Oil & Gas, petrochemicals, fertilisers and chemicals industries.
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With these acquisitions, Zetwerk will become one of the seven companies in India to operate in this space, Acharya said.
