Raychem RPG, a joint venture between TE Connectivity USA and RPG Enterprises India, today announced acquisition of Chennai-based Hi-Velm Industries, a division of Digivision Electronics Ltd.
The 60-year old Hi-Velm Industries is a leading producer of extra high-voltage disconnectors in India, a statement said.
According to statement, Raychem RPG is currently focused on providing solutions to improve power reliability and lowering power losses through various innovative products.
"Acquisition of Hi-Velm provides an immense strategic advantage to us as it adds a new product line in our portfolio of products and solutions.
"This acquisition will help extend the product line in high growth market of EHV disconnectors globally and we will be able to provide the comprehensive solution to EHV stations," Raychem RPG President Ramani Kasi said.
Raychem RPG intends to integrate the facility at its existing facility of power infrastructure products at Halol to create cost synergies as also to capitalise on the product innovation through its Research Centre at Halol, the statement said.
Ramana Prasad, Chairman, Hi-Velm, said, "We are truly excited about the Hivelm transitioning into the family of Raychem RPG and they will be able to grow the business significantly".
Mumbai head-quartered RPG Enterprises has presence across core business sectors such as infrastructure, tyre, IT and Specialty.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
