The Hindu Business Line : 3M Electro to acquire Mahindra Engg division

3M Electro & Communication India Pvt Ltd, a group company of 3M, today announced it was acquiring the cable accessories division of Mahindra Engineering & Chemical Products Ltd (MECP) for an undisclosed amount.

The Pune-based MECP, which employs 70 people in its cable accessories business, is a leading supplier of cable accessories, including electrical cable jointing kits.

Mr Amit Laroya, Managing Director, 3M Electro & Communication, said, "the acquisition provides 3M with immediate local manufacturing capability, an extensive distribution network and a strong local brand in India. Existing customers and distributors would also benefit from an enhanced line of world class 3M products and technology for new applications."

Facing growing energy demand, India is making significant investments to upgrade and modernise electrical transmission and distribution networks throughout the country. The acquisition of MECP's Cable Accessories business would help 3M bring an even broader line of innovative products, technology and expertise to this key market, Mr Laroya said.

The Cable Accessories Division's vast distributors' network numbering 80 and 100 stockists, apart from faster penetration would help 3M expedite its process

"The product and market knowledge of our talented employees combined with 3M's products and technologies will help us contribute to the continued development of the energy infrastructure throughout the country," said Mr Raghu Murti, Director, MECP.

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