Elgi Equipments has incorporated a new company in Brussels, Belgium namely ‘Elgi Compressors Belgium SPRL’ as a step down subsidiary company. Thus, Elgi Compressors Belgium SPRL will be a Wholly Owned Subsidiary of Elgi Compressors Europe SRL, which in turn is a wholly owned subsidiary of Elgi Equipments. The total cost of acquisition at which the shares are acquired is euro 50,000.
Elgi Equipments is a holding company and an air compressor manufacturer. The company’s segments include Compressors, Automotive Equipments and Others.