Crompton Greaves acquires US-based MSE Power for $ 16 million

Power equipment firm Crompton Greaves Ltd has informed that it has acquired US-based MSE Power Systems, and two of its group firms for an enterprise value of $16 million (about Rs 72 crore).

MSE Group engages in Engineering, Procurement and Construction (EPC) of High Voltage Electric Power Systems. Its capabilities include conceptual engineering, system studies and also complete EPC engineering, spanning Relay/Control, SCADA and Substation Automation.

According to Crompton Greaves, the latest acquisition will increase its strength as a systems integrator in the EPC international business arena, particularly in the renewable energy (wind) segment.

At 11.30 pm, Crompton Greaves was trading 5 pct down at Rs 240 on the Bombay Stock Exchange while the benchmark index was down 5.57 pct at 13,221 points.

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