Lloyd Electric buys Czech Republic's Luvata

New Delhi, May 14 (UNI) Air conditioner coil maker Lloyd Electric&Engineering Ltd today said it has acquired Czech customised finned heat exchangers maker Luvata Czech s r o .

The company has acquired Luvata through a special purpose vehicle, Lloyd Coils Czech s r o , and sees the acquisition as a means to gain a strong foothold in Europe, it said in a statement.

For the calendar year 2007, Luvata reported revenues of about 30.5 million euros with an EBITDA of 1.88 million euros, it added.

UNI AK PDT PK NS1218