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CG to Acquire Lighting Division of Karma Industries

Source : BUSINESS_WIRE
Last Updated: Mon, Jan 14, 2013 08:50 hrs

Mumbai, Maharashtra, India:-- To double capacity in fast-growing CFL lighting market

-- Move towards top position in energy-saving light source products


CG announced that it has entered into a definitive agreement with Himachal Pradesh-based Karma Industries to buy the latter’s compact fluorescent lamp (CFL) manufacturing business. The operations, located in Baddi, Himachal Pradesh, are dedicated to manufacturing CFL products.

This acquisition, which will double CG’s capacity in the fast-growing CFL segment, will be integrated with the Consumer Business unit.



Mr Laurent Demortier, Chief Executive Officer & Managing Director, CG, said, “I am pleased to welcome the Karma family to CG. 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, not only providing us with immediate capacities but also allowing us to offer a complete range of CFL lamps.”

Mr Ash Gupta, President Consumer Business, CG, said, “I am pleased to acquire an advanced manufacturing set-up employing 51 people. Spead across 4,500 sq m, the facility will enable us to better serve our customers and channel partners with high quality products.”

CG

CG is a global pioneering leader in the management and application of electrical energy. With more than 15,000 employees across its operations in around 85 countries, CG provides electrical products, systems and services for utilities, power generation, industries, and consumers. The company is organized into four business groups: Power, Automation, Industrial, and Consumer. CG clocks US$2.3 billion in revenues from product lines that cover the entire value chain of engineering offerings.

For more information on CG, please visit: www.cgglobal.com

About Avantha

The US$ 4 bn Avantha Group is one of India's leading business conglomerates. Its successful entities include BILT, Crompton Greaves, The Global Green Company, Avantha Power & Infrastructure, Solaris ChemTech Industries, Biltech Building Elements, Salient Business Solutions and Avantha Technologies. With an impressive global footprint, Avantha operates in more than twenty countries, employing over 22,000 people worldwide. The Group has business interests in diverse areas including power transmission and distribution equipment and services, paper and pulp, energy and infrastructure, food processing, farm forestry, insurance,chemicals, IT and ITES. Led by Gautam Thapar, Avantha demonstrates strong leadership globally and emerges as a focused corporate, leveraging its knowledge, leadership and operations, adding lasting value for its stakeholders and investors.

For more information on Avantha, please visit www.avanthagroup.com.

Contact:
Ms. Paula Sengupta, Global Head – Corp. Communication , CG (Crompton Greaves Limited), +91 (22) 24237842 / 67558771

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