Luvata, a fully owned entity of Luvata Holding OY is a manufacturer of customized finned pack heat exchangers (coils) serving the heating, ventilation, air conditioning and refrigeration industry all over Europe. In FY 2007, Luvata Czech reported total revenues of about euro 30.6 million with EBITDA of about euro 1.88 million.
Having raised Rs 10 crore two years ago for global expansion, LEEL had been scouting for acquisitions in US and Europe according to B R Punj, Chairman and Managing Director, Lloyd Electric and Engineering Ltd (LEEL).
"This synergy will make us serve the ever growing demands of the international market, and in Europe in particular. These synergies will significantly enhance our combined presence in the worldwide market and provide new opportunities for all of our business activities," Punj said.
At present, LEEL has three manufacturing facilities in Bhiwadi, Dehradoon and Kala Amb(Himachal Pradesh) with a combined manufacturing capacity of 1.4 million coils 0.452 millions ACs.