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Water Management Company Wabag to Shift Operations from Austria to India
VA Tech Wabag, a water and wastewater management company, will increasingly operate its overseas businesses out of India to take advantage of lower costs and higher margins, according to Rajiv Mittal, Managing Director of the Chennai-based multinational.
VA Tech Wabag to Shift Operations from Austria to India / Picture: © Vindobona.org
Earlier, its international businesses were run out of Austria, the base of its erstwhile parent company, which it acquired in 2007.
But now, new subsidiaries fully handled out of India have emerged as better paying verticals, says Mittal.
In 2013-14, the overseas businesses contributed over 60 per cent of the company’s revenue of about ₹2,230 crore.
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