Kirloskar Oil Engines (KOEL) has signed definitive agreements for acquisition of 100% equity shares of La-Gajjar Machineries (LGM). The board of directors at its meeting held on June 19, 2017 approved for the same. The closing is expected to be completed within 3 months subject to fulfilling of conditions as may be specified in the definitive agreements.
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.
