The Hindu Business Line : Adecco buys industrial staffing firm

Bangalore, Feb. 8 HR services company Adecco India has made a foray into blue collar temping in the country with the acquisition of Mumbai-based industrial staffing firm Ajinkya.

The acquisition, for an undisclosed sum, will boost Adecco’s growth in the industrial staffing area.

Ajinkya currently has a temp strength of 4,500 people, which is expected to grow to around 40,000 in a couple of years.

Worldwide, around 80 per cent of Adecco’s business comes from blue collar temping. “We expect the contribution in India also to be significant in the next two-three years,” said Mr Sudhakar Balakrishnan, CEO, Adecco India. The company is open to more acquisitions that could add value to its growth in the country, he added.

“We shall invest more in India to grow organically and inorganically, as India along with China are the top two emerging markets for us globally,” said Mr Michel Tcheng, Senior Vice-President, Adecco Global.

Ajinkya is an ISO certified industrial staffing solutions company with over 150 clients in Western India including Reliance, Cummins India, Tetra Pak, Siemens, Thermax, RPG group and Praj Industries.

The new entity expects business from auto, telecom, power, infrastructure, pharma, chemicals and aviation sectors, Mr Balakrishnan said.

The Switzerland-based Adecco Group is a €20.4 billion company with over 7 lakh associates employed in over 70 countries. Ajinkya is Adecco’s second acquisition in the country, the earlier one being Peopleone Consulting, an HR and staffing solutions company, which it acquired in 2004.

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