ABB acquires Lenzohm
By Our Corporate Bureau | 26 May 1997
Asea Brown Boveri Ltd has acquired a 51 per cent stake in Lenzohm Electrical Company Pvt Ltd, a small engineering services company based in Mumbai. The aim is to strengthen the group's maintenance and servicing operations. The deal was brokered by HSBC Investment banking, and is reported to have been swung at a price of around Rs 10 crore.
Lenzohm is involved in the repair and maintenance of large motors, generators, alternators and transformers used in the cement, steel, and fertiliser plants and in refineries. It has a turnover of around Rs 3 crore.
Cajetan Pinto, Lenzohm's managing director, is expected to continue in his position after ABB takes over.