One of the leading manufacturer of heat exchanger coils for AC industry, the Delhi-based Lloyd Electric & Engineering Ltd (LEEL), has recently announced that it has acquired the Czech Republic based company, named Luvata Czech. The company officials have not said anything about the amount of investment that LEEL has made for the acquisition and informed that the Luvata Czech is actually a fully owned entity of the Luvata Holding OY. The officials added that the company usually manufactures customized finned pack heat exchangers (coils) and it is also serving the heating, ventilation, air conditioning and refrigeration industry all over Europe.
According to one of the sources related to the development, the total revenues registered by Luvata Czech, in the FY 2007, was about euro 30.6 million with EBITDA of about euro 1.88 million. The source said that the LEEL had raised an amount of Rs 10 crore for its global expansion, about two years ago and it was also exploring for making acquisitions in US and Europe.
The Chairman and Managing Director of Lloyd Electric and Engineering Ltd (LEEL), Mr. B R Punj was also commenting on the issue and said, "This synergy will make us serve the ever growing demands of the international market, and in Europe in particular. These synergies will significantly enhance our combined presence in the worldwide market and provide new opportunities for all of our business activities". He added that the company is having a number of three manufacturing facilities in Bhiwadi, Dehradoon and Kala Amb (Himachal Pradesh) at the moment and the combined manufacturing capacity of those facilities is 1.4 million coils 0.452 millions ACs.
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| Posted : 5/15/2008 |
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