Crompton Greaves’ board has approved the Scheme for vertical demerger of Consumer Products Business Unit (BU) into wholly owned subsidiary Crompton Greaves Consumer Electricals, and the existing scheme with Crompton Greaves Consumer Products is withdrawn.
The new Scheme consists of 100% vertical demerger of the Consumer BU, and will come into effect from the Appointed Date 1st October, 2015, subject to receipt of all Regulatory approvals.
Crompton Greaves is a global pioneering leader in the management and application of electrical energy. With more than 15,000 employees across its operations in around 85 countries, CG provides electrical products, systems and services for utilities, power generation, industries, and consumers.