Alstom India sells Air Preheaters and Industrial Mills business to Oak Energy

The Board of Directors of Alstom India Ltd has given green signal to the sale and transfer of the company’s Air Preheaters and Industrial Mills (‘Auxiliary Components Undertaking’) business to Oak Energy India Private Ltd, an Indian legal entity of Triton (a leading European investment firm), as a going concern on a ‘slump sale’ basis, for a lump sum consideration of Rs 51.3 crore in cash.
 
The Auxiliary Components Undertaking generated less than 2% of Alstom India’s total income during the previous financial year.
 
This follows Alstom’s global announcement on April 4, 2014, to sell its auxiliary components business to Triton for an enterprise value of around Euro 730 million. This project is part of the non-core asset disposal programme, announced by Alstom last November.
 
The auxiliary components business sold is part of the steam segment within Thermal Power and is active both in the new equipment market and aftermarket services across three product lines: air preheaters and gas-gas heaters for thermal power plants, heat transfer solutions for a variety of petrochemical and industrial processes, and grinding mills for diversified industrial applications. Headquartered in Germany, the activities employ more than 1,500 people worldwide, with operations in Germany, the US, Japan, China, India, Brazil, Switzerland and the Czech Republic.