Praj Industries acquires US company

Mumbai, Sep 19: Praj Industries today announced takeover of a Omaha-based corporation, saying it has acquired 100 per cent common stock of C J Schneider Engineering Company (CJS) for Rs 22.5 crore.

The Indian company informed the BSE that the US company has now become its subsidiary , adding CJS , having expertise and experience in providing detailed engineering services to the biofuel industry including ethanol plants, already has contracts in hand from leading ethanol producers for supply of various services.

This wholly-owned subsidiary complements Praj's own business in United States and will benefit customers in US to get a wider range of services.

Within six month of its entry into US market, Praj has bagged contracts to supply technology and machinery to seven ethanol plants, the company release said.

UNI