General Electric (GE) India is learnt to be in talks to acquire Chennai-based Indo Tech transformers for an undisclosed amount, reports Economic Times.
This deal will help GE to grow in its important markets as well as strengthen its manufacturing presence in the power sector.
Indo Tech Transformers, a part of the Rs 2.4 billion Indo Tech group, used to get a significant portion of its revenues by supplying distribution and power transformers to the state electricity boards (SEBs), but of late its been focusing more on the industrial and export segments.
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