Elgi Equipments provides business update

Restructures China operations; Set to acquire Ergo Design

Elgi Equipments announced the business updates -

The Company has undertaken restructuring of its China operations due to slowdown in China. The business license of Elgi Equipment Zhejiang has been expanded to include trading activities. Meanwhile, Elgi Compressors Shanghai Trading has been wind down.

The Company plans to acquire the entire share capital of Coimbatore based - Ergo Design.

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