Crompton Greaves Limited Acquires Emotron Ab

[SCIM]

Emotron stronger with new ownership

 

Crompton Greaves Limited, based in Mumbai, India, has entered into an agreement with Polaris Private Equity to acquire the Swedish drives company Emotron AB. As part of one of the world’s leading engineering corporations, Emotron will extend its offer for complete drive solutions, strengthen its R&D resources and have access to new geographic markets.

 

Leading engineering corporation with globalization strategy

Crompton Greaves (CG) is a leading engineering corporation based in Mumbai, India, listed on The Stock Exchange, Mumbai and the National Stock Exchange. With a history dating back to 1937 it is now part of the USD 4 billion Avantha Group, an Indian industrial conglomerate with business interests in areas such as pulp and paper, food processing, chemicals, infrastructure and energy. CG’s offer comprises products and services for the generation, transmission, distribution and utilisation of electrical energy. Their solutions are divided into three business areas: Power systems (transformers, switchgear, circuit breakers etc.), Industrial systems (motors, generators etc.), and Consumer products (lighting, ventilation, electrical appliances). Targeted industry sectors are power, steel, oil and gas, cement, mining, sugar, chemicals and fertilizers, irrigation and water supply.

 

Since 2005, CG has an ambitious globalization strategy with the aim to provide complete solutions and take a position as an international player. Today CG employs more than 8,000 employees worldwide and has manufacturing bases in Belgium, Canada, Hungary, Indonesia, Ireland, France, UK and US, in addition to more than twenty manufacturing locations in India. CG’s Global R&D centre is located in India and has been recognised for its innovation.

Emotron completes the portfolio in drives technology

 

The acquisition of Emotron will bring an experienced and profitable drives company into the group, completing the existing portfolio, opening up for the development of complete drive systems and giving access to the European market.

“This is good news for Emotron and our customers,” says Philip Schwarz, president and CEO at Emotron. “This will be a long-term ownership with a strategy to invest in our company and our technology. Stronger resources in research and development will increase speed in product development. We will be able to offer optimized drive systems and also expand into new markets such as the high-growth Indian market. Customers will also gain from a wider global presence for service and support.”

 

Closing of the transaction is expected to take place in June 2011, as is contingent on the approval of the German merger control authority.

 

More information

• Philip Schwarz, president and CEO, Emotron AB: +46 42 16 99 00, philip.schwarz@emotron.com

• Crompton Greaves website: www.cgglobal.com

• Emotron website: www.emotron.com

 

About Emotron

Emotron is a Swedish company which develops solutions for protecting and controlling processes and equipment driven by electric motors. Customers benefit from energy savings, reduced maintenance and improved productivity. Targeted industry sectors are water/wastewater, machine builders, mining, infrastructure and process industry. The product portfolio comprises AC drives, softstarters and shaft power monitors.

Emotron focuses on three selected application areas:

• Flow control – pumps, fans, compressors, blowers • Material handling – cranes, crushers, mills, mixers, saw mills, conveyors • Lift control – passenger lifts

In the last 35 years Emotron has grown to become a global group with 150 employees and a turnover of 40 million euros. Development and manufacturing resources are located in Sweden, the Netherlands and Germany. The company has its own sales organizations in Sweden, Benelux and Germany, offices in China and Latin America, and a worldwide network of distributors and service partners.

www.emotron.com

 

About Crompton Greaves

Crompton Greaves is listed on The Stock Exchange, Mumbai and the National Stock Exchange. CG is a part of the ~USD 4.0 billion Avantha Group of Companies with diverse interests in chemicals, paper and allied products, foods, power generation, business and technology solutions besides power transmission and distribution equipment. The group has over 20,000 employees worldwide. With a heritage of more than 130 years, Crompton Greaves is a market leader in the Indian transformer market and amongst the top ten transformer manufacturers globally with a significant participation in European and American transmission and distribution market. Further information is contained on the website

About Crompton Greaves Limited (CG)

www.cgglobal.com.