Crompton Greaves to sell Power Systems Business in Canada

Crompton Greaves to sell Power Systems Business in Canada

The company will sell it to PTI Holdings Corporation in a structured deal for an enterprise value of Canadian $20 million
Crompton Greaves has received an approval for sale of company’s Power Systems Business in Canada to PTI Holdings Corporation in a structured deal for an enterprise value of Canadian $20 million subject to post-closing adjustments. The Committee of Directors at its meeting held on October 26, 2015 has approved for the same.

Crompton Greaves 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.
source:ventura