The Tam International Group and Normet Group announced they have acquired 100 per cent of the share capital of “Tam Construction Chemicals (India)”. Previously TAM India was a 50/50 joint venture with Sharat Nath. Nath will continue as a director of the company, responsible for sales acquisition.
The decision to acquire the remaining shares is part of Tam and Normet’s global expansion strategy which was formally announced in April 2010. Normet, which manufactures specialist equipment for large construction projects already has a strong presence in India and the addition of Tam’s Construction Chemicals will allow them to develop in the construction sector.
Tom Melbye, president of Normet Group and executive Chairman of Tam Group, said “India is one of the fastest growing markets for Construction equipment and related chemicals and the amount of Infrastructure projects planned over the next few years is simply staggering. Normet and Tam are committed to serving our valued customers and the acquisition of 100 per cent of the business shows our long term commitment and confidence in the Indian market”
