• search

Siemens Ltd acquires 50 per cent stake in Flender

Written by: Staff
Subscribe to Oneindia News

Kolkata, May 4 (UNI) Siemens Limited has recently acquired 50 per cent stake in Flender Limited for Rs 678 million to become a fully owned company of Siemens in India.

The Siemens Board of Directors has already approved the acquisition at its meeting and with signing of the closing agreement Flender's manufacturing unit at Kharagpur in West Midnapore district had also come under its wing.

Flender is one of the leading players in the industrial gearboxes segment as its revenues touched Rs 857 million mark till September 30, 2005. With its current employee strength moving around 325, the company caters to the major market segments like cement, Sugar, steel and rubber.

Siemens is the flagship of the Siemens Group in India which is a leading provider of industry and infrastructure solutions in India with a business volume aggregating about Rs 5400 crores. It operates in the core Communication, Transportation, Healthcare and Lighting, Company sources here today said.

UNI ABA KK DB1902

For Breaking News from Oneindia
Get instant news updates throughout the day.

X
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Oneindia sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Oneindia website. However, you can change your cookie settings at any time. Learn more