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New Delhi, Aug. 26

Power equipment maker Controls & Switchgear Group (C&S) has announced the acquisition of the 50 per cent stake held by its partner Gewiss SpA (Italy) in Controls & Switchgear GEWISS India Pvt Ltd — its modular wiring devices, lighting and industrial electrical solutions division. C&S will integrate Controls & Switchgear GEWISS India Pvt Ltd with the company’s existing operations in power management products, a company release said. The new e ntity will now be known as C&S Lighting and Wiring Accessories Pvt Ltd. “We established the JV with a vision to bring to the Indian market cutting-edge technology and trends in the field of modern electrical installations. Our decision to take direct control of our lighting and wiring accessories division will enable us to deliver focused and customised solutions for the Indian market. The decision was taken in the mutual interests of both partners and to ensure highest level of service to the end customers,” said Mr R.N. Khanna, Chairman & Managing Director of C&S. C&S is a Rs 750-crore group and recently raised Rs 100 crore in private equity from GE Commercial Finance to fuel its organic capex and explore inorganic growth opportunities. — Our Bureau

More Stories on : Mergers & Acquisitions | Electrical Goods

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