Engineering company, Batliboi Ltd, has announced
acquisition of 70-per cent stake in French air engineering
company AESA, SA for approximately Rs9 crore, through
an all-cash deal.
said that the remaining 30-per cent stake would remain
with AESA''s key employees. It further stated that
there would be no change in the management and employee
structure of the French company.
suffered a loss of Rs1- Rs2 crore last year due to
its building mortgage debt, but Batliboi intends to
turn the company around this year, according to Nirmal
Bhogilal, chairman and managing director, Batliboi.
is into machine tools, textiles, air engineering,
textile machinery, ACs and refrigeration, and clocked
a gross turnover of Rs300 crore last year. Its main
facilities are in Udhna, Bangalore and Peterborough
with additional offices in Shanghai, Prague and Dhaka.
Batliboi, AESA is its second acquisition after Canadian
Machine Tool Company Quickmill in March this year.