At meeting held on 02 January 2017
The Board of Shilpi Cable Technologies on 02 January 2017 approved the 100% acquisition of UAE-based Gulf Aglow LED Lighting FZCO (GAL). The deal gives SCTL a strong entry into the high growth LED market with an established partner that has license to sell under the renowned 'Westinghouse' brand & owned brand GALUX in 54 countries, and a vast manufacturing capability. SCTL has already established a wide presence in India in the B2C segment with its SAFE brand which will now be used to grow in the LED segment. GAL's extensive global network also becomes available to SCTL to grow 'SAFE'. The acquisition is expected to be completed within three months subject to necessary regulatory approvals.Powered by Capital Market - Live News
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