Business Daily from THE HINDU group of publications
Saturday, Dec 06, 2008
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Business Daily from THE HINDU group of publications Saturday, Dec 06, 2008 ePaper | Mobile/PDA Version | Audio | Blogs |
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Corporate
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Mergers & Acquisitions Indo Tech Transformers sells out to Prolec-Ge of Mexico Our Bureau Chennai, Dec. 5 The Chennai-based Indo Tech Transformers Ltd today informed BSE that the promoters of the company, along with their relatives, have by a share purchase agreement decided to sell their entire shareholding to Prolec-Ge International based in Mexico. The transfer of shares account for 54.35 per cent of the paid up capital of the company. Indo Tech has five manufacturing facilities – four in Chennai and one in Palakkad in Kerala. With the recently set up factory in Kancheepuram, the company began focussing on power transformers up to 315 MVA capacity in 400 KV class. In 2007-08 the company registered a turnover of Rs 189 crore against Rs 155 crore posted in the previous year. It registered Rs 118 crore during the first half of this fiscal. More Stories on : Mergers & Acquisitions | Electrical Goods
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