Electric equipment manufacturer Crompton Greaves has announced the acquisition of US-based heavy transmissions equipment maker MSE Power Systems Inc and its group companies - MSE Engineering LLC & MSE West LLC (MSE Group) for $16 million.
MSE Group is engaged in engineering, procurement and construction (EPC) of high voltage electric power systems, specialising in in conceptual engineering, system studies and also complete EPC engineering, spanning relay / control, SCADA and substation automation. It is a solution provider specialising in industrial and utility type electric power systems. It also provides complete turn-key power systems including transmission lines, substations, generating systems, system integration.
''This acquisition will increase the company's strength as a systems integrator in the EPC international business arena, particularly in the renewable energy (wind) segment,'' Crompton Greaves said in a statement to the Bombay Stock Exchange.
Crompton Greaves is India's largest private sector enterprise and has diversified extensively. It is engaged in designing, manufacturing and marketing technologically advanced electrical products and services related to power generation, transmission and distribution, besides executing turnkey projects.
MSE was founded in 1997 and has extensive experience in projects with voltage levels ranging from 2.4 kV to 500 kV, both domestic and overseas. MSE has project experience worldwide including: Algeria, Guatemala, Iraq, Pakistan, Papua New Guinea, the Philippines and Saudi Arabia. MSE projects have been designed to both ANSI and IEC standards.
Crompton Greaveshas several international acquisitions and JVs and is fast emerging as a first choice global supplier for high quality electrical equipment.
Crompton Greaves is in collaboration with W. Lucy & Co. of the U.K. which enables it to offer ring main units for reliable and convenient distribution of power, especially in urban areas under the joint venture. It's other JV - Brook Crompton Greaves Ltd is for manufacturing of low tension high efficiency motors for various industrial applications.
Earlier in June this year Crompton Greaves acquired French company Societe Nouvelle de Maintenance Transformateurs (Sonomatra) in a deal valued at Euro 1.3 million. (See: Crompton Greaves buys French firm Sonomatra for Euro 1.3 million)
Crompton Greaves announced last month that it will be spending Rs220 crore in 2008 - 09 on expanding capacities across its three segments.