Latest News | CG Power and Industrial Solutions to Pick Up 55% Stake in G G Tronics India
Get latest articles and stories on Latest News at LatestLY. CG Power and Industrial Solutions has entered into a definitive agreement to pick up 55 per cent stake in G G Tronics India Pvt for an aggregate consideration of up to Rs 319.39 crore under its vision to expand its railway product portfolio.
Chennai, Jul 24 (PTI) CG Power and Industrial Solutions has entered into a definitive agreement to pick up 55 per cent stake in G G Tronics India Pvt for an aggregate consideration of up to Rs 319.39 crore under its vision to expand its railway product portfolio.
Bengaluru-headquartered G G Tronics India Pvt Ltd is a company specialising in Electronic Safety Embedded Signalling Systems including 'KAVACH' for the Railway Transportation sector.
In a press release issued on Wednesday, CG Power and Industrial Solutions Ltd said it has established a strong foothold in the Railway Industry offering a comprehensive portfolio including Traction Machines and Systems, Rail Transportation Traction Electronics (complete Railway Propulsion Systems) and Railway Signalling Products.
G G Tronics India Pvt Ltd established in 2003, specialises in designing, manufacturing, supplying and installing Electronic Safety Embedded Signalling Systems for the Railway Transportation.
The acquisition by CG Power is in line with the company's strategic intent to expand its Railway product portfolio by diversifying into areas poised for growth.
The integration is anticipated to leverage synergies between the companies. CG's extensive expertise in manufacturing, engineering and project management complemented by G G Tronics specialised knowledge in railway transportation safety, particularly in the Train Collision Avoidance System (KAVACH) and embedded systems will enable CG Power to actively pursue KAVACH and other rail safety projects, the company said.
Commenting on the acquisition, CG Power and Industrial Solutions Ltd Managing Director Natarajan Srinivasan said, "this is a crucial step forward for CG in further consolidating our position in the railway industry.It underscores our commitment to advancing our product portfolio with cutting-edge railway safety signalling technologies such as the KAVACH."
"By integrating G G Tronics Pvt Ltd's specialised capabilities, we are poised to deliver enhanced value and reliability to our customers in the Indian Railways sector, reaffirming our commitment to innovation and operational excellence," he said.
G G Tronics Pvt Ltd Founder N Manjunath said, "by partnering with CG Power, we will be able to leverage their advanced manufacturing and engineering expertise, thereby bolstering our growth and further strengthening our position in the Railway Transport Safety Signalling sector."
"This partnership will enable us to expand our geographical footprint, achieve economies of scale and optimise our supply chain management. These synergies with CG having expertise in Locomotives - Power Electronics, Propulsion Systems and Electricals and Rolling Stock and GGT's prowess in railway signalling with drive technological integration through joint R&D efforts and facilitate global market expansion," Manjunath said.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)