Crompton Greaves has entered into a definitive agreement with the Himachal-Pradesh based Karma Industries to acquire its Compact Fluorescent Lamps (CFL) business, the manufacturing unit of which is based in Baddi, Himachal Pradesh, are dedicated to manufacturing CFL products.
The approximate value of the acquisition is Rs 14.5 crore.
The acquisition will double the company’s capacity in the fast-growing CFL lighting segment and be integrated with the consumer business unit. It will help reinforce Crompton Greaves’ presence in the rapidly growing Indian consumer market.
Crompton Greaves is engaged in designing, manufacturing and marketing electrical products and services related to power generation, transmission and distribution.
