Kirloskar Oil Engines (KOEL) is planning to acquire balance stake in La-Gajjar Machineries (LGM), Ahmedabad. KOEL had acquired 76% stake in LGM in the year 2017 with an agreement that the balance holding will be acquired by KOEL over a 5 year period.
By completing the acquisition as per previously agreed timelines, LGM will become a 100% subsidiary of KOEL. With a strong management team in place, LGM will focus on building this business to its real potential, deepening and widening its reach and leveraging KOEL’s expertise in channel, service, manufacturing and R&D to build a world class and self-sustaining organization.
Kirloskar Oil Engines, a flagship company of the Kirloskar group, is a leader in the manufacturing of diesel engines, farm equipment and generator sets with a sizable presence in international markets.
