Bangalore, Apr 4(UNI) Telco Construction Equipment Company Limited (TELCON), a leader in construction equipment sector in India, has signed another deal this week in Spail for controlling 60 per cent stake in COMOPLESA LEBRERO, an European Construction Equipment conmpany based in Zaragoza.
According to a release issued here today the deal provide an access to compaction equipment technology for TELCON and HITACHI to be fully exploited internationaly. The balance of shares would be retained by the existing shareholders who would continue to be associated with the venture, the release added.
TELCON Managing Director Ranaveer Sinha, on the acquisition, allayed fears that the acquisition speed would defocus TELCON from its core business in India. In fact the deal would strengthen and add relevance to the last week's SERVIPLEM deal of enhancing product offerings in the road and general construction value chain, he explained.
Mr Sinha said that TELCON, HITACHI and LEBRERo would work in unison to identify opportunities and leverage their presence in the global market.
UNI SR RKN1447