Crompton Greaves acquires French firmJune 2nd, 2008 - 4:51 pm ICT by IANS
Mumbai, June 2 (IANS) In its fourth global acquisition, electrical equipment major Crompton Greaves Limited has bought French power transformers repairing leader Societe Nouvelle de Maintenance Transformateurs (Sonomatra) for 1.30 million euros (Rs.85 million or $2.01 million). Crompton Greaves in a regulatory filing said the acquisition would help its capabilities in the services segment of its transmission and distribution business.
Sonomatra is engaged in providing on-site maintenance, repair of power transformers, on-load tap changers, oil analysis, oil treatment and retrofilling.
Though Crompton Greaves has been focusing on three segments - power systems, industrial systems and consumer products - in the Indian market, it is mainly identified with its fans and lighting business.
This is the fourth acquisition for the firm in the international arena.
It acquired Belgium-based transformer manufacturer Pauwels three years ago, gaining entry not just into Belgium but also Ireland, Canada, the US and Indonesia where Pauwels had manufacturing facilities.
Thereafter, it acquired Hungary-based Ganz, a leading manufacturer of extra high voltage transformers, gas insulated switchgear and other related components.
Last year, it acquired Ireland-based transmission-and distribution-focussed Microsol Holdings Ltd and its associate companies.
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