Investment Firm Takes Stake in Indian EMS
Published: 29 August 2007
by Mike Buetow
MUMBAI – L&T Capital Co. Ltd. has paid a reported 1 billion rupees for a stake in Indian EMS provider Rangsons Electronics Pvt. Ltd.
According to published reports, L&T Capital took a 40% stake in Rangsons, one of India's largest native EMS companies.
According to published reports, L&T Capital took a 40% stake in Rangsons, one of India's largest native EMS companies.
L&T Capital is owned by engineering and construction company Larsen & Toubro Ltd. Rangsons is part of the NR Group and is based in Mysore, India.
In a statement, L&T president R.N. Mukhija said, "Looking at the market situation and its growth opportunities, we believe this investment will bear fruit for both partners. Rangsons is well positioned to create significant value for its stakeholders. We see a great opportunity for Rangsons to be a global end-to-end solutions provider in EMS."
(US$1: 0.02441 rupees)
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