TIL has received Board’s approval for the acquisition of 60% stake in Tulip Compression (TCPL) - a fast-growing clean energy solutions provider. Through this acquisition, the company aims to foray into the clean energy manufacturing ecosystem. The company will acquire TCPL from its affiliate, Gainwell Commosales (GCPL), with the option to increase its stake to 74%.
This strategic and symbiotic investment strengthens the company’s product portfolio by giving it access to LNG and Hydrogen powerpacks for its material handling equipment, as well as specialised manufacturing of large-scale cryogenic LNG storage tanks, oil and gas process vessels, and skids. At the same time, the company’s CNG, LNG and Hydrogen equipment packaging and assembly business gains a competitive edge via backward integration with its in-house manufacturing capabilities and infrastructure, creating a powerful synergy that accelerates growth for both companies.
TIL is one of the leading providers of a wide range of infrastructure equipment representing some of the finest in global technology.
