Crompton Greaves arm joins hands with Saudi company

CG Power and Industrial Solutions Ltd. | Electric Equipment | Capital Goods & Industrial Consumables | BSE: 500093 | NSE: CGPOWER

07 Sep 2009 Evaluate

Crompton Greaves has announced that its subsidiary has entered into an agreement with Saudi Arabia based-EIC Group to form a joint venture company to manufacture transformers. Pauwels Trafo Belgium NV, subsidiary of the company has entered into a definitive memorandum of undertaking with the company, for establishing a joint venture company to manufacture medium power transformers.

The total equity capital of the joint venture company would be $6 million out of which the company, through its subsidiary would contribute $ 3.06 million, for a 51 per cent stake.crack crack

Peers

Company Name	CMP
Waaree Energies	2555.00
Apar Industries	16562.10
Havells India	1087.20
Suzlon Energy	42.85
Siemens	3771.00
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