New Delhi: Power equipment maker C&S Electric Ltd on Wednesday said it acquired Netherlands-based Etacom ISD BV for 20 million euros (about Rs 139 crore).
Etacom ISD BV is Dutch holding company for Etacom Group that specialises in manufacturing insulated busbars. The acquisition was done through C&S Electric subsidiary 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 greenfield company in China 18 months ago. C&S Electric is engaged in the businesses of low and medium voltage switchgear, power busbars, lighting solutions, turnkey 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.
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