TAM-Normet consolidates presence in IndiaSep 2010
TAM-Normet News Release
As part of their international partnership, Tam International and Normet have acquired 100% of the share capital of TAM Construction Chemicals (India) Pvt Ltd. Previously TAM India was a 50/50 joint venture with Mr Sharat Nath. Mr Nath will stay on as a director of the company responsible for sales acquisition.
Normet already has a strong presence in India and the addition of TAM's Construction Chemicals will create a 'Total Solutions Provider' for the construction sector. The decision also advances TAM and Normet's global expansion strategy announced formally in April 2010.
Tom Melbye, President of Normet Group and Executive Chairman of TAM Group, commented: "India is one of the fastest growing markets for construction equipment and related chemicals. The amount of infrastructure projects planned over the next few years is simply staggering. Normet/TAM are committed to serving customers in India and full acquisition of the TAM India business shows our long term commitment and confidence in the Indian market."
Founded in 1982, TAM is a producer of specialist chemicals and systems for waterproofing, leak sealing, repair and protection for the civil construction, underground construction and general building industry. Normet acquired a 40% shareholding in TAM in April 2010 as a logical expansion of its core equipment manufacturing business and to provide a broader offering to the international civil tunneling and mining industries.
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