Elgi Equipments’ wholly owned subsidiary -- Elgi Compressors USA Inc (Elgi USA) has completed divestment of entire stake in its Joint Venture G3 Industrial Solutions LLC, USA, to the joint venture partners for a total consideration of $324,429.
As per the terms of the operating agreement, post divestment of Elgi USA’s stake, G3 Industrial Solutions LLC shall be the exclusive distributor to sell, maintain and service ELGi branded oil flooded rotary screw category products for a period of five years.
Elgi Equipments is a holding company and an air compressor manufacturer. The company’s segments include Compressors, Automotive Equipments and Others.
