| Log in
VCCircle_marsons.jpg

Power transformer maker Marsons to pick stake in Dubai-based firm

13 May, 2016

Kolkata-based power transformer maker Marsons Ltd has agreed to acquire a considerable equity stake in a Dubai-based trading company for about $5 million, as per a stock market disclosure.

Marsons did not reveal the name of the Dubai-based firm. It, however, said the trading company has a strong presence in the Middle East and Gulf Cooperation Council (GCG) region which will enable Marsons to explore that market.

“The trading company is active in Iraq which is a potential market for transformers. Hence with the acquisition of a considerable stake in the company, Marsons will benefit,” it said.

Once the acquisition is completed, Marsons will also set up a manufacturing base in UAE.

Incorporated in 1976, Marsons manufactures power, distribution and furnace transformers, among others.

Earlier this month, it had said it is in discussions with a transformer manufacturer in Bangladesh to set up a joint venture and a production facility for transformers in the neighbouring country, without revealing the name of the prospective partner.

The venture in Bangladesh will help the company build client relationship with power utilities in that country, it had said.  

Marsons aims capitalise on the Bangladesh government’s plan to enhance the power generation capacity in the country which offers an huge opportunity for the power sector, it had said. 

Like this report? Sign up for our daily newsletter to get our top reports.


Leave Your Comment
News Roundup: JK Lakshmi Cement To Buy Firm In Egypt

News Roundup: JK Lakshmi Cement To Buy Firm In Egypt

TEAM VCC 8 years ago
JK Lakshmi Cement To Buy Firm In Egypt – JK Lakshmi Cement, a Delhi-based...
Nalanda Capital Ups Stake In Voltamp Transformers

Nalanda Capital Ups Stake In Voltamp Transformers

TEAM VCC 6 years ago
Nalanda Capital has increased its holding in power transformer maker Voltamp...
Hammond Power Acquires 70% In Pan-Electro's Transformer Biz

Hammond Power Acquires 70% In Pan-Electro's Transformer Biz

Anil Das 6 years ago
Canada-headquartered Hammond Power Solutions Inc. has completed the acquisition...
No Comments

Power transformer maker Marsons to pick stake in Dubai-based firm

Powered by WordPress.com VIP