Gruppo Aturia, the European subsidiary of pumps manufacturer WPIL (BOM:505872), has acquired a 100% stake in Misa Italy, for an undisclosed amount, according to a Tuesday filing to the stock exchanges.
Italy-based Misa deals in large pumping station projects and supply of pumps and hydro turbines.
The acquisition will help the company to offer turnkey project capability across Europe and the MENA region, along with strengthening its offerings in the area of supply of large pumps for water, irrigation, and drainage.
Shares of the company were up nearly 3% in recent trade.
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