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Home arrow News arrow Mergers and Acquisitions arrow Elgi Equipments to acquire Compressor manufacturer based in Europe
Elgi Equipments to acquire Compressor manufacturer based in Europe Print E-mail
Written by Hari   
Thursday, 03 December 2009
Mumbai: Elgi Equipments Ltd, one of Asia's largest integrated manufacturers of air compressors, has entered into an agreement to acquire a company based in Europe, engaged in the manufacture, sales and service of compressors. The Coimbatore based compressor manufacturer has signed an agreement to buy hundred percent (100%) shares of the Company in Europe.

Elgi informed exchanges, that the closing of this transaction is planned for end of February 2010 and is subject to customary regulatory approvals and other negotiated conditions of closing.

The acquisition is part of the company's strategy to increase it's global presence. It has subsidiaries in Brazil, Middle East and China.

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