Power equipment maker C&S Electric ltd acquired Netherlands-based Etacom ISD BV for 20 million euros (about Rs 139 crore).
Etacom ISD BV is a Dutch holding company for Etacom Group that specializes in manufacturing insulated bushars. The acquisition was done through C&S Electric International BV, an Official statement said.
“The acquisition is a strategic move for C&S Electric’s power busbar business to extend domestic position in India to a global scale” the statement said.
The acquisition is C&S Electric’s second overseas venture as it started a green field company in china 18 month ago. C&S Electric is engaged in the businesses of low & medium voltage switchgear, power busbars, light solutions, turkey electrical contracts and diesel generating sets. The statement said revenue of C&S Electric are expected to be over Rs 825 crore while Etacom is likely to earn about Rs 125 crore Revenue in 2011-12.
