Crompton Greaves has acquired three units of Nelco Ltd for Rs920mn, according to reports. It has acquired Traction Electronics, supervisory control and data acquisition and Industrial Drives units from Nelco. This acquisition will boost the company's presence in the railway business segment.
Crompton Greaves Ltd, part of Avantha Group, designs, manufactures and markets electrical equipment, and products and services related to power generation, transmission and distribution. The company operates in 4 business lines – Power Systems, Industrial Systems, Consumer Products and others. Nelco Ltd - part of the Tata Group - provides system integration and product management for industrial controls, power, electronics, defence electronics, VSAT networks and automation.
Crompton Greaves has been aggressively expanding its portfolio through acquisitions. Crompton Greaves has made 19 acquisitions since 2005, the report stated.