Mumbai, Sep 15 : Electrical equipment manufacturer Crompton Greaves said on Monday it has acquired US-based MSE Power Systems for $16 million (about Rs 73.41 crore).
The company has just concluded an arrangement for the acquisition of MSE Power Systems and its group companies - MSE Engineering LLC and MSE West LLC, Crompton Greaves said in a regulatory filing to the BSE.
This acquisition would strengthen the company's presence in the international business arena, particularly in the renewable energy (wind) segment, it said.
MSE Group is engaged in engineering, procurement and construction (EPC) of high voltage electric power systems.
Shares of Crompton Greaves were trading at Rs 246, down 2.38 per cent in late afternoon trade on the BSE.
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