Mumbai, May 3 (UNI) Siemens Limited announced today its acquisition of the isolator business of Elpro International Limited for Rs 25.
As part of this deal, Siemens has acquired the manufacturing unit of Elpro International located at Hyderabad, said a release.
Siemens has completed its acquisition of the isolator business of Elpro International. As announced earlier, the Siemens Board had approved the proposal to acquire this business.
The newly acquired business will be integrated with Siemens' Power Transmission and Distribution (PTD) division and its 108 employees comprising both officers and workers will now be part of Siemens Ltd.
The isolator division of Elpro International at Hyderabad provides high quality isolators covering the entire spectrum up to 420 kV.
The isolators are used in transmission and distribution lines for isolation of the circuit during maintenance or breakdown.
Elpro International Ltd., a leader in the isolator business in India, is a listed and ISO-9000 certified company with a turnover of Rs 329 million as on March 31, 2006.
The company is in the business of surge arresters, metal oxide varistors, isolators and permanent magnets.
Siemens Managing Director J Schubert said, the acquisition of the isolator business from Elpro International is part of our investment-led growth strategy.
This new business will enable us to close the gap in our PTD portfolio and further strengthen our position in the growing power sector.
The manufacturing facility will add to the existing 15 factories in the 50th year of manufacturing presence in India.
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