Kirloskar Oil Engines (KOEL) has received an approval for acquisition of 100% equity shares of La-Gajjar Machineries (LGM). The board of directors at its meeting held on June 19, 2017 has approved for the same. This is subject to signing of Definitive agreements. The closing is expected to be completed within 3 months subject to fulfilling of conditions as may be specified in the definitive agreements.
LGM is engaged in the manufacturing and sale of Submersibles and monoblock pumps and pumpsets and Stainless steel pumps in the domestic and export markets.
Kirloskar Oil Engines manufactures diesel engines in the range of 2 Kva to 6 MW. The engines are preferred by various services sectors like banks, telecommunication establishments, commercial use buildings, hotels and restaurants.
