Marine Electricals (India) has received approval from board of directors to acquire 49.20% of issued and paid-up equity share capital of Marks Marine Radio by way of acquiring of 2460 equity shares from its shareholders for total consideration amount of Rs 2.35 crore.
The objective of acquisition is to enhance integration capabilities of Main Line of Business. Marks Marine Radio has agency of Japan Radio Company (JPC) which is one of the most widely installed systems in many vessels of Shipping Corporation of India, Indian Coast Guard, etc., besides many other vessels in commercial business. A large opportunity by way of supply and servicing is possible with this acquisition. The availability of trained service engineers shall enable receipt of orders and their execution expeditiously. The Board of the Company at its meeting held on October 16, 2023, accorded its consent for same.
Marine Electricals (India) is one of the leading players offering comprehensive electrical solutions to Marine Segment as well as other Industries.
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|---|---|
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