CG Acquires NELCO's 3 Business Units
CG has just concluded an arrangement for the acquisition of 3 businesses (Traction Electronics, SCADA and Industrial Drives), of an Indian company Nelco Limited (Nelco), on a slump sale basis. The approximate Value of acquisition of the abovementioned 3 businesses is Rs. 920 million. 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.
About Nelco Ltd.
Nelco caters to core industries such as defence, railways, steel, cement, automobile, oil and gas, paper and ceramics. The company operates the following business units:
- Strategic electronics: Provides electronic-based solutions in the security and surveillance sectors, including intrusion detection systems, e-fencing systems, integrated security solutions, scanners, explosive detectors and weather management systems.
- Building management systems: Integrated building management systems, including HVAC controls, fire alarms, access controls and CCTV.
- Energy network management systems: Develops and supplies SCADA systems for sectors such as electrical utilities, railways, water distribution, steel plants, oil and gas industries.
- Traction electronics: Provides power electronics equipment to various works of the Indian Railways for passenger and freight AC locomotives.
- Drives: Provides medium and low voltage AC drives for industrial use.
- Tatanet network solutions: Provides VSAT-based networking solutions such as internet over VSAT, bandwidth on demand, interactive distance learning, IP multicast and digital streaming. Also delivers server co-location and managed services facilities.
CG welcomes the three businesses of Nelco to its fold .