Crompton Greaves Limited (CG) has entered into a definitive agreement with Himachal Pradesh-based Karma Industries to acquire it’s compact fluorescent lamp (CFL) manufacturing business. The operations, located in Baddi, Himachal Pradesh, are dedicated to manufacturing CFL products.
CG is organized into three business groups, viz., power systems, industrial systems and consumer business unit, and this acquisition, will be integrated with the Consumer Business unit. The acquisition is expected to double CG’s capacity in the fast-growing CFL segment. Mr Laurent Demortier, Chief Executive Officer & Managing Director, CG, said, "I am pleased to welcome the Karma family to CG. This acquisition reinforces our presence in the rapidly growing Indian consumer market. The state-of-the-art facility can manufacture 2 million lamps per month, not only providing us with immediate capacities but also allowing us to offer a complete range of CFL lamps."
Mr Ash Gupta, President Consumer Business, CG, said, "I am pleased to acquire an advanced manufacturing set-up employing 51 people. Spread across 4,500 sq m, the facility will enable us to better serve our customers and channel partners with high quality products."