Business Daily from THE HINDU group of publications
Thursday, Mar 06, 2008
ePaper | Mobile/PDA Version
Business Daily from THE HINDU group of publications Thursday, Mar 06, 2008 ePaper | Mobile/PDA Version |
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Corporate
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Mergers & Acquisitions Victory Group buys British switchgear firm Our Bureau Hyderabad, March 5 Victory Group, a Hyderabad-based company, has announced the acquisition of the British Midlands located electrical switchgear manufacturer — Craig and Darricott, a 64-year-old closely held company for an undisclosed sum. The British company, which was previously wholly owned by the Darricott family, is a producer of voltage controls and their electrical safety gear. The Managing Director of Victory Group, Mr Mahindra Vaddineni, in a statement said, “the specialist switchgear has reputation in key markets around the world and will support our ambitious plans for expansion in countries such as India, Africa, China, the Middle East and Americas.” As per plans, the Victory Group is aiming to support new product development and also synergise existing products to cater larger clientele. It may be recalled, another British Midlands-based company Stokes Forgings, an automotive component manufacturer was taken over by Mahindra & Mahindra in 2006. More Stories on : Mergers & Acquisitions | Electrical Goods
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