Crompton Greaves acquires 3 units of Nelco
Crompton Greaves, manufacturer of products related to power generation, today said that it has acquired three business units of Tata group promoted Nelco on a slump sale basis at a cost of about Rs 92 crore.
The three businesses comprise of Traction Electronics, supervisory control and data acquisition (SCADA) and Industrial Drives.
This acquisition will enable the company to become a stronger and more comprehensive player in the railways business segment and build capabilities in drives by better leveraging on its existing product portfolio, stated the company is a release.