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Crompton Greaves gains on pact with French firm Arelis for aerospace equipment

The company entered into a MoU with French firm Arelis that specialises in design & manufacturing of high-tech electronic solutions.

SI Reporter Mumbai
Crompton Greaves is trading higher by 1% to Rs 193 on NSE in otherwise subdued market after the company announced that has entered into a memorandum of understanding (MoU) with French enterprise Arelis that specialises in design and manufacturing of high-tech electronic solutions.

As per the agreement, two companies will explore opportunities to manufacture and supply hybrid microelectronics for high mix-mid volume market and for high runner microelectronics hybrids markets for aerospace and defence, energies, utilities and telecommunication sectors, Crompton Greaves said in a statement.

With the technology transfer from Arelis on hybrid microelectronics, Crompton Greaves will be able to indigenously manufacture the components and sub-assemblies for Indian and global markets, it added.

The stock opened at Rs 194 and touched high of Rs 195 on NSE. Till 1020 hours, a combined 1.2 million shares changed hands on the counter on NSE and BSE.
 
 

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First Published: Jan 13 2015 | 10:24 AM IST

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