Manufacturer of UPS systems Consul Consolidated and Servo Controlled Voltage Stabilizers today announced its merger with art power electronic products manufacturer Neowatt Energy Solutions.
"The merger will create full range of power electronics offering products and solutions in power conditioning, power backup, solar, energy conservers..," a company release said.
"We are excited to merge our two businesses. With Neowatt, we will be the only company in India to have a comprehensive range of UPS systems, inverters, stabilisers, active filters and solar power offerings," Consul Consolidated Managing Director and CEO, Sriram Ramakrishnan said.
"Last year we crossed a turnover of Rs 200 crore and we will strive to become India's premier electronic company and be a force with India and exports power electronics market, with a target of achieving a turnover of Rs 600 crore in next three years," he said.
Post the merger, the combined entity Consul Neowatt would offer comprehensive products and solutions that currently not offered by any single power electronics company, including mission critical UPS solutions, it said.
"Consul has one of India's largest sales and service network with direct sales and service personnel in 75 locations pan India. This provides a perfect platform and synergy to market our products to their base of over 10,000 business customers across various industries", Neowatt MD and CTO, Shivaji Waghmare said.
"This will make us the only company in India with a comprehensive range of power conditioning and power backup products designed and manufactured in India", he said.
"Following the merger, Consul Consolidated will leverage Neowatt's power electronics product development capability and consolidate the Research and Development efforts to develop cost effective power conditioning and power back up solutions.
Consul would have access to a range of innovative and state-of-the-art power electronic products like three phase UPS systems from 10 to 800kVA, solar inverters with net metering and grid export options, static transfer switches among others, the statement added.
