Hyderabad, Mar 14: The city-based Victory Group today announced that its acquisition of UK-based switchgear manufacturer Craig and Derricott, for an undisclosed sum. Craig and Derricott is a leading manufacturer of high-quality switchgear products for low voltage control and safety applications.
In a statement, Victory Group MD, Mahindra Vaddineni said, ''our expertise in manufacturing medium voltage switchgear will synergise with the products manufactured by Craig and Derricott. We will support aggressive new product development pipelines for future growth, which will synergise with existing products and cater to wider clientele.'' He further said Craig and Derricott's specialist switchgear has an unrivalled reputation in key markets around the world and the new venture will support Victory's ambitious expansion plans in India, Africa, China, the Middle East and America.