New Delhi: Engineering major Larsen & Toubro (L&T) has acquired Malaysia-based electrical equipment maker Henikwon Corporation for an undisclosed sum.
The acquisition was made by L&T's wholly-owned subsidiary Tamco Switchgear, a part of the engineering major's electrical and automation (E&A) business, the company said in a statement today. Tamco is also head-quarterd in Malaysia.
"Based in Malaysia, Henikwon Corporation is a leading manufacturer of low and medium voltage busduct systems. The Henikwon acquisition brings a string of customer base of large corporations to Tamco," L&T said.
Busduct is a cost effective means of providing power and replaces the conventional cabling system.
The product range of Henikwon Corporation, incorporated in 1982, comprises light voltage sandwich busduct systems form 440 Amp to 6,300 Amp and medium voltage busduct systems for ratings from 400 Amp to 5,000 Amp.
"The acquisition will be complimentary to E&A's portfolio and make comprehensive offerings for the building and infrastructure systems," Tamco's Chairman S C Bhargava said.
"It will further enhance our presence in South East Asia and in catering to Indian and Middle East markets," he added.
L&T's shares were trading at Rs 1,401.75 apiece, up 0.93% during the afternoon trade on the BSE over the previous close.
Source: PTI
