Waaree Group sells majority shares of Waaree Instruments Limited, India to Baumer Group, Switzerland

Mumbai, 3rd November 2010 – Waaree Group, a leading player in process control equipments, industrial valves, solar energy, lubricants & petrol/fuel station equipments has sold majority shares in one of their businesses - Waaree Instruments Ltd. to the Swiss Baumer group. The Financials of the deal between the both was not disclosed.

“This transaction will help the Company to achieve a leading position in the Indian market” states Mr. Hitesh Doshi-Chairman of Waaree Group.

About Waaree Instruments Ltd (WIL):-

Waaree Instruments Ltd. is engaged in the designing, manufacturing and marketing of industry-specific process control instruments and solutions. WIL was founded in 1989 by Doshi Brothers, a first-generation entrepreneur with over two decades of experience. With more than 500 well-experienced employees WIL is a part of the Waaree Group and one of India’s leading manufacturer and supplier of process control instruments. Waaree Instruments is an established player in India with a widespread Indian distribution network and state-of-the-art manufacturing facilities. For further information please refer to www.waaree.com.

About the Baumer Group:

Baumer is a leading international manufacturer of sensors and sensor systems for factory and process automation. The family-owned company is headquartered in Switzerland and employs more than 2,000 people worldwide in 35 locations and 18 countries. The long-lasting success is built on high customer focus as well as the innovative and diversified product range of the five product segments Sensor Solutions, Motion Control, Vision Technologies, Process Instrumentation, and Gluing Systems. For further information please refer to www.baumer.com

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