Blue Star acquires Naseer Electricals

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Bangalore, Feb 14 (UNI) Leading air conditioner Blue Star today acquired city-based Naseer Electricals to make a dent in engineering sector, which is growing at a rate of 35 per cent.

Blue Star Vice-Chairman and Managing Director Sunil Advani said the acquisition, which cost Rs 42 crore, was aimed at capturing Rs 560 crore engineering market.

''The acquisition will enable Blue Star to deliver integrated mechanical, electrical and plumbing (MEP) projects for the commercial building and infrastructure segments,'' he said.

''We aim to acquire 35 per cent market share in electrical and engineering sector,'' he said.

He said the company had established its base in North America, Europe, France and the UK and was growing at the rate of 10 per cent year-on-year.

UNI MSP AJ 1445

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