 "Williamson Magor group to merge all engineering companies under one unit")
Under a proposal, McNally Bharat Engineering Co, McNally Sayaji Engineering, and Kilburn Engineering will merge together under the latter's name.
The move will result in the merged entitites having Rs 7,000 crore plus annual turnover and an order book basket of around Rs 10,000 crore.
According to a statement from WMG, the core objective of the merged entity will be to emerge as a total engineering solution provider. Mutual resilience and diversification of expertise through consolidation of entities will make the organization less susceptible to economic downturns as well as sectoral slumps.
"The merged entity will eliminate of duplication of efforts leading to optimization in resources utilization which will usher exponential growth", vice chairman of WMG, Aditya Khaitan said.
According to him, the transaction will contribute to further the streamlining of internal process resulting in improved productivity. The entity will consolidate massive pool of talents and will render services to possibly entire spectrum of sectors. Cost savings and potential re-rating will benefit all stake holders.
"The dimension of the organization will enable it to now target giant projects which are presently being avoided by individual constituents due to constraints in terms of size, technology, qualification, geographical location etc factors. Pertaining to power sector, the organization will become a total solution provider for power plants as well as power transmission units", Manoj Toshniwal, managing director of EMC said.
During 2015, EMC invested in the WMG owned McNally Bharat Engineering Co and became co-promoters of the company.
