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ABB India acquires Metsys Engg for Rs 8.5 cr

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Press Trust of India New Delhi

ABB India, a leading power engineering company, today announced that it would acquire Bangalore based Metsys Engineering and Consultancy.

The deal size is estimated to be about Rs 8.5 crore.

"The transaction is expected to be completed by the end of September," the company said in a statement.

"This acquisition will help us to further strengthening our strong position in the metals business and our portfolio in this growing sector," ABB India's Vice Chairman and Managing Director Biplab Majumder said.

Metsys Engineering and Consultancy was started in 2006 and has developed into one of the key technical solution providers to the steel industry in India and other emerging market countries in last three years, the statement said.

 

Metsys' employees and R&D capabilities will be integrated in to ABB’s Process Automation division, the statement added.

ABB is among the world leaders in power and automation technologies that enable utility and industry customers to improve performance while lowering environmental impact.

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First Published: Sep 14 2010 | 4:10 PM IST

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