Indo Asian Fusegear to sell switchgear division to French rival Legrand
23 Jul 2010
French electrical installation systems maker Legrand yesterday tabled a bid for the switchgear division of Indo Asian Fusegear Ltd, for an undisclosed sum in order to expand in India and other emerging economies.
This is the second acquisitionthis month by the Limoges, France-based Legrand, which acquired Turkey's leading UPS maker Inform on 9 July.
Founded in 1958 by a group of technocrats, Delhi-based Indo Asian Fusegear is one of India's leading manufacturers of switchgears, lighting products, wires and cables. It is the pioneer in manufacturing of CFLs in India.
Its markets are India, Asia and other developed countries. It reported revenues of over Rs230 crore in FY10.
Euronext-listed Legrand designs, manufactures and distributes electrical installations and power distribution products and systems globally. It manufactures and distributes around 130,000 products for a wide range of applications ranging from home automation solutions to building automation systems.
The company's product portfolio includes lighting controls, wiring accessories, trunking, distribution boxes and sockets, flush mounting, home automation systems, electrical installation systems, cable management system and safety products.