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Industrial Products India, Industrial Manufacturers & Suppliers
 




 
   
 
 
 

Crompton Greaves buys smart grid au

Crompton Greaves buys smart grid automation company ZIV Group

Power equipment and consumer durable maker Crompton Greaves Friday said it has acquired smart grid automation company ZIV Group for an enterprise value equivalent to Euro 150 million.
CG manufactures and sells electrical transmission and distribution equipment in the Americas, Europe, the Middle East, India and South East Asia. While ZIV, a provider of digital equipment for grid automation and advanced metering infrastructure, has presence in 50 countries, with major operations located in Brazil, India, Spain, and the US.
"In previous years, CG has been expanding its activities into the systems arena, providing integrated solutions for utilities and industries. ZIV will complement CG's offering for Grid Automation, further enhancing its differentiated offering in its core businesses," the Avantha Group company said in a statement.
Norberto Santiago Elustondo, chief executive officer of ZIV, said, "We feel very confident about the next phase of our relationship with CG as we know very well our colleagues as a result of the joint venture in India. This development will be a catalyst to grow the ZIV activities in new parts of the World Market. By this fusion with CG, together we will get the most from ZIV's innovative technology".

The Mumbai-headquartered company operates along three businesses-power systems, industrial systems, and consumer products.

 
     
 
   
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