BHEL for overseas acquisitions in small, medium Cos

New Delhi, Apr 3: Public sector electrical company BHEL will acquire small and medium size companies, both in India and abroad, its CMD Ashok K Puri said today.

''But the acquisitions will not be beyond our cash reserves,'' Mr Puri, whose company has huge cash reserves, told reporters at the annual press conference.

As part of the inorganic growth, BHEL will look at the attractiveness of the opportunities for obtaining new technologies and expertise, intellectual property rights, production extensions and market access, he added.

He clarified that it would not own projects the way ONGC Videsh Ltd did.

''We set up plant, take money, and move on. Our line of business is different from OVL,'' he said.

UNI