McNally arm to acquire German firm KHD Humboldt Wedag

McNally Bharat Engineering Company Ltd (MBE) will acquire KHD Humboldt Wedag Internationals' manufacturing facility in Cologne, Germany and its world-wide coal and minerals business,  through its Singapore subsidiary, .

"MBE Holdings Pte Ltd, McNally's Singapore-based subsidiary, has entered into purchase agreements for the acquisition of KHD Humboldt Wedag's coal and minerals business worldwide and its manufacturing facility in Cologne," McNally Bharat Engineering said in a filing with the Bombay Stock Exchange (BSE).

The closing of the transaction is subject to customary conditions, the filing added.

The company did not disclose financial details of the deal.

McNally Bharat Engineering Company Ltd (MBE) is engaged in providing turnkey solutions in the areas of power, steel, alumina, material handling, mineral beneficiation, coal washing, ash handling and disposal, port cranes, civic and industrial water supply etc

Based in Kolkota, the company is jointly owned by the Williamson Magor group and the G P Birla group.