The Economic Times: January, 2013
Mumbai: Crompton Greaves has entered into a pact for buying Himachal Pradesh-based Karma Industries' compact fluorescent lamp manufacturing business for Rs 14.5 crore, the Avantha Group company said.
The acquisition, which will be a part of Crompton Greaves' consumer business division, will double the company's CFL manufacturing capacity. "This acquisition reinforces our presence in the rapidly-growing Indian consumer market.
The state-of-the-art facility can manufacture 2 million lamps per month by not only providing us with immediate capacities but also allowing us to offer a complete range of CFL lamps," Laurent Demortier, chief executive officer and managing director, was quoted as saying in a press statement.
Avantha Group-promoted Crompton Greaves manufactures power and distribution transformers, as well as electrical products for industrial and consumer use.