Amber Enterprises India has received approval to enter into the definitive agreement for acquiring 80% stake upfront in the equity share capital of Sidwal Refrigeration Industries, which will include in it, the business of Sidwal Technologies. The Board of Directors of the Company at its meeting held on March 22, 2019 has approved the same.
The acquisition will strengthen Amber's leadership and market presence in the air conditioner space in India and it will create a platform providing unmatchable, high quality and price competitive product offering for mobile applications, railways, metro, bus, telecom and defence applications.
Amber Enterprises India, a part of Amber Group, is one of the largest original equipment manufacturer of white goods in India. Its product list includes Split & Window Air Conditioners for commercial and residential use, Heat Exchangers, Multi Flow Condensers and Home appliances.
