ISS Sets up India Operations
22 August 2005
ISS is now taking a new, important step to expand its operations globally: ISS is entering India via an acquisition of Cleantec Hospitality Services Private Ltd.
"For some time now, we have had our eyes on the Indian market. India has a very promising potential with an annual growth rate in the Facility Services market around 60 percent", says CEO Eric Rylberg, ISS Management A/S.
"The acquisition of Cleantec provides ISS with an immediate presence in a region of western India, where many European and American companies are continuously expanding their businesses. Furthermore, we are impressed by the professional management of Cleantec and the company's fast track growth," he says.
Cleantec is offering cleaning services and office support, but also catering and guesthouse management in sync with customer demand. The company was founded in 1999 and has grown to 2,300 employees. It is based in Mumbai, one of India's growth hubs, but operates in several major cities mainly in western India.
The move into India is in line with ISS' previous statements e.g. in the new strategy, Route 101, launched in April 2005. One of the strategic goals is to expand ISS' geographical footprint to 55-60 countries around the world.
India is the 43th country where ISS will be operating, and the fourth new country added to ISS' geographical footprint during the last six months.
Cleantec already has a strong presence in some of the fastest growing locations in the country, like Bangalore and Mumbai, which enables ISS to leapfrog the establishment cycle and immediately start offering services of an international standard to clients in India.
And more is to come: "ISS expects to expand its activities and to make more acquisitions in India. Our aim is to have around 50,000 employees in five years," says Eric Rylberg.
Further information:
Mr. Henrik Juul Nordenlund
International Director, Northern Europe & Asia, ISS Management A/S
Tel.: + 45 38 17 00 00