ABB, ALSTOM MERGER TO SEE MEGA FIRM IN INDIA
Article Abstract:
The global merger of Asea Brown Boveri (ABB) and Alstom will result in the creation of the second biggest power generation entity in India. Bharat Heavy Electricls Ltd will continue to be the leader with a share of about 80 percent of the Indian power business. Alstom will benefit from the merger in India as ABB is stronger with a manufacturing facility at Baroda for turbines and in West Bengal for boilers while Alstom has only a manufacturing facility for turbines at Calcutta. ABB has engineering procurement and construction contracts valued at $2 billion for seven power projects comprising over 4000 mw while Alstom has contracts worth less than $1 billion for three projects. (khr)
Comment:
The global merger of Asea Brown Boveri (ABB) and Alstom will result in the creation of the second biggest power generation entity in India.
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1999
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AB ELECTROLUX TAKES OVER VOLTAS UNIT
Article Abstract:
AB Electrolux of Sweden is to acquire the white goods division of Voltas for about Rs160 crore. The division will be hived off into a separate joint venture between Electrolux and Voltas. Electrolux will hold 80 percent stake in the new company while Voltas will hold 20 percent. The household appliances and compressors businesses of Voltas will be transferred to the proposed venture. The joint venture also proposes to take up the manufacturing, marketing and distribution of professional appliances like food service equipment, industrial laundry and cleaning equipment and forestry and gardening equipment. (khr)
Comment:
To acquired white goods division of Voltas for about Rs160 crore
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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