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BHEL seeks buyouts in US, Europe

Press Trust Of India  |  New Delhi 

Looking to bolster its overseas foot prints, state-run Bharat Heavy Electricals (BHEL) is actively scouting for acquisition opportunities in Europe and the US.

At present, the company is executing about 24 contracts spread across 19 countries, including Afghanistan, Ethiopia, Indonesia, Sudan, Syria and Vietnam.

BHEL has said it is “actively pursuing acquisition opportunities in Europe and the USA” in the areas of core technologies in energy sector, including renewables, transportation and transmission. The efforts are aimed at gaining access to technology, global markets and securing global supply sources, BHEL said in its 2011-12 annual report.

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First Published: Wed, August 22 2012. 00:16 IST