Salzer Electronics has acquired 72.32 per cent stake in Kaycee Industries. The acquisition is in line with company’s focus to strengthen Salzers position in the industrial switchgear market by increasing its product offering and expand its footprint in railway business, manufacturing set-up in western India and access to all-India dealer network.
Earlier, the company had entered into a Share Purchase Agreement for acquisition of entire 45,899 equity shares of Kaycee Industries representing 72.32% of the Total paid-up shares at a Price of Rs 3,475 per share from its Principal Promoter - Universal Trust.
Salzer Electronics is a Leading player offering Total and Customized Electrical Solutions in Switchgears, Wires & Cables and Energy Management business. The Company caters to a wide range of products with five In-house manufacturing facilities, located in Coimbatore and Himachal Pradesh.