Business Daily from THE HINDU group of publications
Friday, Dec 22, 2006
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Business Daily from THE HINDU group of publications Friday, Dec 22, 2006 ePaper |
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Corporate
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Mergers & Acquisitions Industry & Economy - Power
Our Bureau
Bangalore , Dec 21 ABB has agreed to acquire the Mysore-based Raman Boards Ltd (RBL) to strengthen its insulation products' business. In a statement on Thursday, ABB said that the acquisition will complement its global insulation components' capacity, which includes making insulation material for transformers, as well as electrical and mechanical components. "This acquisition will serve as an important source of insulation kit component supply for ABB transformers," said Mr Brice Koch, Head of Business Unit Transformers, ABB Group. RBL's products will be seamlessly integrated to ABB's existing product offerings, which include insulation kit components made in Halol and other parts of the world. RBL's operations will serve both domestic and export markets. "This will help increase our ability and speed to deliver quality products in fast developing and high-growth markets like India and other Asian countries," said Mr Ravi Uppal, Country Manager for ABB in India and head of the South Asia region. "ABB can bring us several benefits including scale advantage, market access, technology innovation, domain competence as well as global quality and productivity standards," said RBL Managing Director Mr Aroon Raman. RBL is a closely held company established in 1979 in technical collaboration with Rogers Corporation of the US. The company is a leading manufacturer of press boards and insulation components for the transformer industry. RBL employs around 300 people across four manufacturing facilities at Nanjangud (Mysore), Thandavapura (near Mysore), Sonepat (near Delhi) and Navi Mumbai (New Mumbai).
More Stories on : Mergers & Acquisitions | Power | ABB Ltd
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