HOUSTON (PRWEB) April 09, 2021
Uttam Group of Companies, a global manufacturer of ultra-lightweight composite cylinders and systems for compressed natural gas and hydrogen, announced today that it has closed on the purchase of Catalina Composites in Garden Grove, California. The entity will now be known as Uttam Composites.
“We’re delighted to be acquiring this facility and we will be investing at least $20 million to greatly expand staff, purchase new machinery and invest in research and development of new product lines,’’ said Uttam CEO Karan Bhatia. “With demand skyrocketing for clean energy solutions, particularly in compressed natural gas and hydrogen, this expansion will help us grow.”
The 107,000-square-foot facility, which produces thousands of cylinders a year, has already doubled its staff from 11 to 22 employees and will grow to around 50 people in the next two years, Bhatia said.
“Uttam is helping shape a new era of the energy industry through hydrogen, which is a growing solution to the world’s energy needs,’’ Bhatia explained. The acquisition will allow Uttam to expand to the U.S. and Europe, in addition to dominating the Asian market. Their business in India, Uttam Cylinders, has had a compounded annual growth rate of more than 60 percent in the last three years.
Catalina Composites said the company is in good hands. “The long-term prospects of the composites business under the ownership of the acquiring company are significantly more favorable than other available alternatives,’’ Catalina wrote to its employees in announcing the sale.
Uttam Group of Companies is a family-owned conglomerate established in 1900 that serves a wide array of customers and locations — from the Indian Army at the Siachen Glacier, the highest battleground on earth, to the Indian Space Research Organization’s mission to Mars.
Uttam Composites is located at 11700 Monarch St., Garden Grove, California, 92841
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