Thursday, 28 July 2011

Premium Transmission's German acquisition for global growth



Premium Transmission Ltd,aKaran Thapar group company, has acquired Rexnord Stephan GmbH & Co KG, Germany, a Euro 21 million maker of geared motors and industrial gearboxes,etc, for an undisclosed sum. The acquisition has been done through a Netherlands based SPV and is expected to increase Premium Transmission's turnover besides aiding the global ambitions of the industrial gear maker. 

A statement released here quoted Praveen Sachdev, chairman, Premium Transmission Ltd, as saying, "The acquisition of Stephan is a major step forward in our desire to build a global gear business. The focus of the group is to specialise in the supply of industrial gearboxes. We intend to significantly grow the Hameln business."

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