Crompton Greaves to continue acquisitions, eyes LatAm, China

20 Aug 2010

Crompton Greaves is looking to bridge gaps in technology and markets through acquisitions, organic as well as inorganic growth. It has made seven acquisitions in the past five years. Latin America and China are the two geographies where it is looking for further acquisitions.

The power equipment maker and electrical appliances maker may buy companies on the basis of customer reach as well as technological value and would not mind spending even up to $1 billion for a deserving candidate.

In April, the firm bought three businesses of a Tata group's domestic firm Nelco Ltd for about Rs 92 crore, giving it strength in drives and railway business. In March, it bought UK-based Power Technology Solutions Ltd for an enterprise value of about 30 million pounds to become a significant player in local electrical engineering market.

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