Hercules Hoists’ wholly owned subsidiary--Indef Manufacturing has signed an Intellectual Property Rights (IPR’s) purchase agreement with Consolidated Hoists (CHPL), Pune. The main purpose of the agreement is to acquire Swift trademark, domains, designs and any other related data of their hoists, crane and its service business. Lumpsum fee of Rs 4.625 crore, to be paid in the manner as agreed between parties. The deal gives the company the opportunity to expand market reach of hoists and crane business.
Hercules Hoists, a part of the Bajaj group, one of the India’s prime business houses was established in 1962 is a manufacturer of material-handling equipment.
