Japanese company Toshiba corp. has decided to buy Vijai Electricals in Hydrabad to strenghten its production in india. This deal is of about $200 million. This acquisition would be completed by November,said the company.
Takeshi Yokota, vice-president of Toshiba, said in a press conference that while acquisition was necessary for their global T&D strategy, Vijai’s products and sales channel would be an ideal fit for their T&D business in India and beyond. “It will support us not only in the Indian market, where we aim to secure a 20 per cent market share within five years, but in reinforcing our position in the global market, by strengthening our worldwide network,” added Yokota.
Toshiba will position the new company as a core production base for expanding its T&D business in India and the global market, alongside its other bases in Japan, China, Brazil, Russia and Southeast Asia, the statement added. Vijai Electricals was established in 1973, to manufacture and sell electricity distribution transformers. The company expanded its T&D business in 2006, when it entered the power transformer and switchgear businesses, and through the business activities it has manufactured and supplied the ultra-high voltage 1200 kV power transformer
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