Crompton Greaves to buy MSE power sys

Mumbai, Sep 15: Engineering major Crompton Greaves Ltd has concluded an arrangement for the acquisition of US based MSE Power Systems Inc and its group Companies - MSE Engineering LLC and MSE West LLC (MSE Group). MSE Group is engaged in Engineering, Procurement and Construction (EPC) of High Voltage Electric Power Systems. Its capabilities include conceptual engineering, system studies and also complete EPC engineering, spanning Relay/Control, SCADA and Substation Automation.

The approximate Enterprise Value of this acquisition is US Dollars 16 million, Crompton Greeves informed the BSE on Monday, Sep 15.

The acquisition would increase the Company's strength as a Systems Integrator in the EPC International business arena, particularly in the Renewable Energy (Wind) segment the filing said.

UNI