L&T buys stake in Rangsons for Rs 100 crore

L&T Capital, a group company of Larsen and Toubro (L&T), has bought stake in Mysore-based Rangsons Electronics, an electronics manufacturing services (EMS) provider, for around Rs 100 crore.

L&T is the country's leading technology, engineering and construction company. R N Mukhija, president-operations, L&T, said, "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."

Rangsons Electronics, a part of N R Group, has four facilities in Bangalore and Mysore and an international procurement office in China. It caters to the high mix "� high tech product spectrum of leading Indian and global original equipment manufacturers (OEM).

In 2006, the company increased capacity by around 50 per cent and has grown at a compounded annual rate of 65 per cent in the last five years

L&T is beefing up its presence in the EMS sector. This division contributes around Rs 2,000 crore to L&T's top line, and is engaged in the business of low-voltage switchgear products, electrical systems, energy meters, medical equipments, petroleum dispensing pumps and automation solutions.