November 11, 2009 - Matrikon purchased the remaining 51% of Matrikon-SoftDEL India Private Limited from joint venture partner SoftDEL Systems Pvt. Ltd. on November 11, 2009 for CAN$575,000.The company, with approximately 30 full time staff, will be operating as Matrikon India going forward. “We initiated this joint venture in July 2008, at the peak of the resource markets,” stated Ian Brown, Matrikon’s vice president of Europe, Middle East & Africa.
“Due to the changing global economic situation since then, we have not been able to expand the operation as we originally intended, by providing access to qualified engineers in the event of labour shortages outside of India. Where we have succeeded is in leveraging the talented resources in India to supplement our global research and development teams. Moving forward, Matrikon India will continue to expedite our R&D efforts while building the skill set to support our growth in the Middle East, where we anticipate growing demand for our products and services.
“We anticipate that the economy will recover over the next year, and as it does, Matrikon India will be prepared to meet our global resourcing needs.”Anand Vishnubhotla, a Matrikon employee of over 11 years, has been managing the operation since the joint venture was formed and will continue as General Manager. Matrikon India will be integrated into our Europe, Middle East & Africa (EMEA) business. Ian continued: “I’d like to take this opportunity to welcome the employees of Matrikon India.
We look forward to growing together in the coming years.”
About Matrikon
Matrikon (www.matrikon.com) is a provider of industrial intelligence solutions that transform production data into the knowledge needed to anticipate problems and optimize operations — empowering and sustaining the achievement of operational excellence. With offices throughout North America, Australia, Europe and the Middle East, and clients who are industry leaders in the process industries, power generation and mining, Matrikon's reach is global. Matrikon has been empowering excellence since 1988, and is traded on the Toronto Stock Exchange under the symbol MTK.
