Financial Daily from THE HINDU group of publications
Friday, May 05, 2006


News
Features
Stocks
Cross Currency
Shipping
Archives
Google

Group Sites

Corporate - Mergers & Acquisitions


Siemens buys 50% stake in Flender

Our Bureau

Mumbai May 4

Siemens has completed the acquisition of 50 per cent stake in Flender Ltd for Rs 67.8 crore. With the signing of the closing agreement, Flender is now a Siemens company, along with its manufacturing unit located at Kharagpur, West Bengal.

Siemens has acquired the 50 per cent stake in Flender from Babcock Borsig Ltd. Flender is a significant player in the industrial gearbox segment with revenues of around Rs 85.7 crore for the year ended September 2005.

Mr J. Schubert, Managing Director of Siemens Ltd, said "It is our continuous endeavour to keep expanding our portfolio that will bring direct benefit to our customers. The addition of the Flender business, which is a part of our investment-led growth strategy, is part of this endeavour. The new business will enhance our automation and drives offerings."

More Stories on : Mergers & Acquisitions | Electrical Goods

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



Stories in this Section
RNRL defends gas supply pact with RIL


Riga Sugar in talks with McDowell
Greenply Uttaranchal unit starts production
Euphoria over cholesterol drug Zocor misplaced, say analysts
Orchid to raise Rs 900 cr
Ministry for one-third independent directors on PSU oil company boards
Tata Motors adjudged `forerunner'
ISMT net up 250 pc
Godrej joins other FMCG majors in shopping for cos abroad
Siemens buys 50% stake in Flender
Robert Bosch picks Coimbatore
AstralPool gets active in Chennai
`Progress of biodiesel plant in Nalgonda encouraging'
Surya Roshni to set up CFL manufacturing plant
Vipul-Laing O'Rourke venture eyes remote facilities management
Addl charge for LG's K.R. Kim
New Managing Director at MRPL
Captive power units spell money for big corporates



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 2006, 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