Financial Daily from THE HINDU group of publications
Thursday, Nov 18, 2004

News
Features
Stocks
Cross Currency
Shipping
Archives
Google

Group Sites

Corporate - Mergers & Acquisitions


Easun Reyrolle plans to buy switchgear unit from group co

Our Bureau

Chennai , Nov. 17

EASUN Reyrolle Ltd, which manufactures power system protection equipment, plans to acquire the switchgear division from Eswaran and Sons Engineers Ltd, a company belonging to the same group, for a consideration of Rs 5 crore.

In a communication to the NSE on Wednesday, Easun Reyrolle said its board of directors has approved a proposal to acquire the switchgear division from Eswaran and Sons Engineers. The money will be paid by way of cash, debt and issue of equity shares of Easun Reyrolle.

Currently, Eswaran and Sons Engineers Ltd holds about a 1 per cent stake in Easun Reyrolle, according to company officials. Easun Reyrolle is a joint venture between the Easun group and VA Tech Reyrolle of the UK. It has plants in Hosur and Bangalore, where it manufactures a range of power system protection equipment like protective relays, control and relay panels, sub-station integration and automation equipment, and electronic energy meters.

When contacted, Mr Hari Easwaran, Chairman, Easun Reyrolle, said that given Easun Reyrolle's product profile, the acquisition of the switchgear division would fit its basket well.

There would also be technological convergence. The switchgear plant is located in North Chennai.

At its peak, the switchgear division had a turnover of about Rs 14 crore, he said. Easun Reyrolle, which reported a net profit of Rs 75 lakh on net sales of Rs 17.08 crore in the first half of this financial year, plans to put up a plant spread over 45,000 square feet at Jigani near Bangalore.

More Stories on : Mergers & Acquisitions | Electrical Goods

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page



Stories in this Section
Kalam to launch NPIL's new R&D centre today


Promoter sells 2.18 pc stake in Bhagyanagar Metals
Birla VXL to consider removal of Lodhas as auditors
Getting `even' on board meetings
Rolta named in Deloitte Fast 500 list
SKIL may sell 50 pc in Pipavav Shipyard
K-Mart to merge with Sears, Roebuck & Co
Easun Reyrolle plans to buy switchgear unit from group co
Indo Asian Fusegear to merge with subsidiary
Tata Group signs four MoUs with Orissa Govt
Henkel India's new Rs 5-cr soap finishing line goes on stream
Vestas RRB to set up plants to make wind turbine blades
CUMI to have production base in Europe
Lucas-TVS mulls setting up plant in Iran
Package for cos investing overseas
Why it does not help to shirk in the name of sickness
Pitti Laminations comes out of BIFR purview
BILT bets on farm forestry to shore up margins
Fenesta hopeful of Rs 100-crore turnover in 5 yrs
Subramanian is CMD of Sterling Holiday



The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription
Group Sites: The Hindu | Business Line | Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |

Copyright 2004, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line