Elgi Equipments today told the National Stock Exchange that it has acquired 100% stake in Rotair S.p.a. The acquisition is through its subsidiary Elgi Compressors Italy. The company did not disclose the value of acquisition and company officials were not available for comment.
The announcement further stated Rotair is engaged in design, manufacture and distribution of ranger of compressors and allied products for the construction and industrial sectors. The company has an annual turnover of Euro 15 million and has market presence across Europe and other leading international markets.
Shares of Elgi Equipments were trading flat at Rs 77.60 on the Bombay Stock Exchange at 1345 hours.