Financial Daily from THE HINDU group of publications
Saturday, Dec 10, 2005
Financial Daily from THE HINDU group of publications Saturday, Dec 10, 2005 |
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Corporate
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Mergers & Acquisitions Merlin Gerin may pick up stake in Numeric Power Our Bureau
Mr R. Chellappan
Chennai , Dec. 9 MERLIN Gerin, the French technical collaborator of the Chennai-based Numeric Power Systems Ltd, might pick up equity stake in the Indian company, according to the Numeric Power Managing Director, Mr R. Chellappan. He was responding to a question at a news conference today. "If they (Merlin Gerin) get an opportunity, they will invest (in the equity of Numeric Power)," Mr Chellappan said. However, he refused to discuss what constituted "getting an opportunity", saying that it was subject to a non-disclosure agreement with the French company. Numeric Power Systems Ltd manufactures `uninterruptible power supply' (UPS) systems, the demand for which comes from several industries such as telecom and banking (for ATMs). UPS systems are also needed for computers. The company produces around 10,000 units. In addition, it buys about 40,000 units from Merlin Gerin for marketing in India. In 2003, Mr Chellappan had announced that Merlin Gerin and Numeric could set up a joint venture in India. Asked about it, he said today that a change in Customs duty had removed the need for a manufacturing joint venture in India. Numeric Power today announced a marketing tie-up with Panasonic Industrial Asia Pte. Numeric has been appointed national distributor for Panasonic's SLA batteries. Mr Chellappan said that Numeric would itself use Panasonic's batteries in its products. He added that in a full year of operations, the value of Panasonic batteries consumed in-house would be about Rs 27 crore. The value of those sold would be about Rs 18 crore.
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