KEC Intl completes acquisitions of SAE Towers

RPG Group company KEC International today said it has completed the acquisition of US-based SAE Towers, along with its subsidiary firms in Brazil, Mexico and America.

The company has also completed the acquisition of homegrown Jay Railway Signalling, it said.

KEC International acquired Texas-based SAE Towers for $95 million (about Rs 440 crore) on a cash-free and debt- free basis.

SAE is a leading manufacturer of steel lattice transmission towers and its acquisition was strategic to KEC, as it will help the company enter more geographies and help its overseas business grow up by 15-20 per cent, KEC Managing Director Ramesh Chandak had said at the time of announcement of the acquisition deal.

KEC's total turnover in FY10 stood at around Rs 3,900 crore.

The acquisition of homegrown Jay Railway Signalling has also been completed in terms of a definitive agreement, it said.

KEC had acquired Jay Railway Signalling for close to Rs 14 crore barely a week after buying out SAE Towers Holdings.

The RPG Group company is a dominant player in the T&D and telecom infrastructure sector and is now eyeing huge business opportunities in railway infrastructure, where it is already present in the electrification segment, having electrified 5,000 kilometres of the Indian railways.