L to R: Hiren Shah, Vice Chairman, IACC, N Sankar of The Sanmar Group, David Hopper, US Consul General in Chennai, Lewis Kling, President & CEO, Flowserve Corporation, USA, R Anand, Chairman, IACC and K V Rangaswamy, Member of the Board and President, L & T - ECC.
The Indo-American Chamber of Commerce (IACC) and The Sanmar Group have jointly instituted the IACC-Sanmar Indo-US Business Co-operation Award. The award recognises the efforts of individuals or business enterprises for their significant contribution in promoting Indo-US relationships through business or economic activity. The award, an annual event, will serve as a benchmark for excellence in building relationships between India and the US.
Both, the IACC and The Sanmar Group have promoted and strengthened Indo-US business relationships over the decades-Sanmar as an industry participant and IACC as an institutional body providing a platform for Indo-US interaction. The Sanmar Group’s association with US business houses is legendary; more so, the contribution in the development of institutions such as the IACC by the Sanmar leadership to promote bi-lateral trade. At the time of the inauguration of the IACC in 1969 by Kenneth Keating, US Ambassador at that time, K S Narayanan, Chairman Emeritus, was the Founder-Southern Regional President of the Chamber. N Sankar and N Kumar of The Sanmar Group, have been past regional presidents of the Chamber.
At the dinner hosted by Sanmar and L&T. L to R: Hiren Shah, IACC, Dr Shankaran P Ragunathan, IACC, N K Ranganathan, CEO, Grundfos Pumps India and R Anand, IACC (extreme right).
Flowserve’s sojourn with India began 40 years ago, albeit in a different avatar. Flowserve’s genealogy has part of its nucleus in Durable Iron, established in 1912. Duriron as it was called, flowed through the river of time expanding its shores through strategic acquisitions. One such tributary was the merger of Duriron with Durametallic Corporation. The union, Durco International further merged with Borg Warner Industrial Products (BWIP) and in 1997, Flowserve was born. Flowing through the twists and turns of acquisitions and organic growth, Flowserve offers a wide range of products and services in flow control, pumping systems and flow solutions. Today, the company has been associated with India through joint ventures with leading industrial houses such as Larsen and Toubro, The Sanmar Group and Microfinish.
Lewis Kling and K S Narayanan.
Sanmar’s association with Flowserve was yet another tributary that originated in the joint venture with Durametallic Corporation of USA in the mid seventies.
N Sankar in his address at the award ceremony reminisced on the early days when he was out scouting for JV relationships with US companies who were market leaders for the products in consideration. A very young Sankar was told in no uncertain terms that Durametallic was looking to
deal with a corporation, as it spelt stability as opposed to individuals who may come and go. Much water flowed under the bridge since then. Durametallic today is morphed into Flowserve, but Sanmar and its JV philosophy remain, the relationships continue. The Flowserve-Sanmar partnership established about thirty-two years ago, is indeed the base that defined Sanmar’s other JV relationships.
Vijay Sankar and Rebecca Kling.
Mark Blinn, CFO & Lars Rosene, Vice President, Global Communications & Public Affairs of Flowserve Corporation, USA
Under the stewardship of N Sankar and project management of S R Seshadri the first collaborative venture for the manufacture of mechanical seals in India came about with the establishment of Durametallic India Ltd. The reference came by from Chemplast’s partners, B F Goodrich.This was the prelude to the rest of the joint ventures and the establishment of Sanmar Engineering Corporation.
L to R: S R Seshadri, N Sankar and Lewis Kling at the Dinner.
“I am doubly delighted. Firstly, on behalf of Sanmar, to be associated with an award that will recognise business co-operation between the two greatest democracies in the world. Secondly, that the first recipient is Flowserve Corporation. Our relationship with Flowserve has particular significance for me personally since this was the first business that I started on my own and the first US collaboration I negotiated on my own.”
- N Sankar
In his acceptance speech Lewis Kling of Flowserve thanked the Flowserve team and the JV partners for their commitment, support and dedication to the business. Lewis Kling referring to Flowserve’s customers, said, “The long term successful co-operation we have with our customers has allowed
us the opportunity to address many challenges and offer solutions to the oil, gas, chemical, energy and motor sectors.”
He reiterated that the workforce plays a significant role in the future of the company.
“I believe our most important asset is our people. With more than 14,000 employees in 56 countries, I am confident that we are well positioned to serve our customers anywhere in the world. I am encouraged by the expertise and positive attitude of our workforce in the region. As the number of employees grows in India, we will ensure that each of them will grow with us by continually having access to the skills and training necessary for success in an increasingly competitive world and having a work environment based on Flowserve’s core values. Our employees here in India will truly be the next-gen of experience in motion. While we celebrate the past I believe our best days in India are yet to come. I look forward to continued relationships as we set the stage for the next 40 years. While it has been a great 40 years, the next 40 years will be greater.”
“The long term commitment of Flowserve to India is one of the reasons, I believe that IACC and Sanmar are recognising Flowserve with this award.”
US Consul General in Chennai
R Anand, Chairman, IACC, Tamil Nadu branch, in his address said that the IACC Sanmar Award would be open to individuals and institutions for contributing to the growth of Indo-US ties.
The award is expected to propel further the growth of business with the US and recognise successful Indo-US joint ventures. Flowserve, he said, is a truly global company that has been doing business with leading Indian partners like Larsen & Toubro and The Sanmar Group for over four decades.
Elaborating the awarding process he explained that all Indo-US joint ventures would be listed and the US partner would be eligible to receive the award on the basis of guidelines and criteria formulated by the award selection committee of the IACC.
S Gopinath, President, Flowserve India and M N
Radhakrishnan of The Sanmar Group.