Woodfield International buys Woodfield UK for marine loading arms

Woodfield Systems International (WSI), a manufacturer of products for the transfer of bulk fluids and gas, announced that the acquisition of Woodfield Systems UK, aimed at the production of marine loading arms in India, has been successfully concluded. Kartik Gala, CEO and Board Member of WSI, expressed that this acquisition would enable WSI to produce marine loading arms for transferring bulk fluids and gas, including cryogenic products like LNG and liquid hydrogen, in addition to its existing road transport solutions. Gala stated, As PM Narendra Modi recently mentioned during India Energy Week 2024, the nation's energy demand is projected to double by 2045, with an unprecedented infrastructure push in that direction. He further emphasized that the combined engineering and manufacturing capabilities of WSI and Woodfield Systems UK would empower them to introduce paradigm-changing innovations in the coming years. Gala explained, While product engineering and management will be handled in the UK, manufacturing will take place in India. We will be the only Indian company manufacturing 100 per cent of marine loading arms in India, as he informed PTI. Anticipating a 40 per cent year-on-year growth with this acquisition, WSI revealed its plans for future investments. The company aims to pursue similar investments in North America and Europe in the coming years, following the acquisition of Woodfield Systems UK. According to a company statement, WSI plans to invest $ 100 million over the next decade to strengthen the country's position as a global manufacturing and engineering powerhouse.