Friday,Oct 12,2007
L&T buys Malaysian switchgear company http://www.business-standard.com/compindustry/storypage.php?tab=r&autono=301044&subLeft=1&leftnm=1
BS Reporter / Mumbai October 12, 2007
Larsen and Toubro (L&T) today announced the acquisition of the switchgear business of Malaysian company Tamco Corporate Holdings for $108 million(Rs 425 crore).
This will give L&T control of the four switchgear plants of the company in Malaysia, China, Australia and Indonesia. The acquisition of Tamco Switchgear Malaysia, the Malaysian unit of the company, was completed today by L&T. It will complete the acquisitions of Tamco Shanghai Switchgear in China, Tamco Electrical Industries Australia and PT Tamco Indonesia over the next four to six months. http://www.business-standard.com/compindustry/storypage.php?tab=r&autono=301044&subLeft=1&leftnm=1