Crompton Greaves

Crompton Greaves Ltd.
Public company
Traded as BSE: 500093NSE: CROMPGREAV
Industry Electrical
Founded 1878
Headquarters Mumbai, India
Key people
 Gautam Thapar, Chairman[1]
K.N Neelkant, CEO
Products Transformers, pumps, HT & LT Motors, DC Motors, Railway Signaling
Revenue ₹140.13 billion (US$2.1 billion) (2015) [2]
Parent Avantha Group
Website www.cgglobal.com

Crompton Greaves (CG) (BSE: 500093, NSE: CROMPGREAV) is an Indian multinational company engaged in design, manufacturing, and marketing of products related to power generation, transmission, and distribution based in Mumbai. It is part of Avantha Group.[3]

History

Col. R. E. B. Crompton founded R.E.B. Crompton & Company in 1878. The company was merged with F.A. Parkinson in 1927 to form Crompton Parkinson Ltd. Greaves Cotton and Company, established by James Greaves in 1859, was appointed as their concessionaire in India.

In 1937, Crompton Parkinson established Crompton Parkinson Works Ltd. in Bombay as a wholly owned Indian subsidiary. In collaboration with Greaves Cotton, it also established a sales organisation, Greaves Cotton & Crompton Parkinson Ltd. In 1947, just before India's independence, Lala Karam Chand Thapar, an Indian industrialist, bought Greaves Cotton when the company was put up for sale. With this acquisition, Karam Chand Thapar gained control of several associated companies such as Crompton Parkison Works, Greaves Cotton and Crompton Parkinson Company.

The name Crompton Greaves Limited was adopted on 2 August 1966, following a court-directed amalgamation of Greaves Cotton and Crompton Parkinson Ltd.

Over the years, the company has evolved into one of India's largest private sector enterprises.

In 1974, Crompton Greaves signed a Western Hemisphere exclusive with CEO H.W. (Hub) Markwardt of Texas based Encon Industries to begin exporting their highly efficient high-breeze electric ceiling fans to the American market. Over the next 10 years, Crompton Greaves would sell over 6 million units of ceiling fans to North & South America primarily for residential use under the brand name "Encon", which stood for ENergy CONservation.

After the acquisition of the Belgium-based Pauwels Trafo/Pauwels Group in May 2005, Crompton Greaves was ranked amongst the world's top ten electrical transformer manufacturers. The company subsequently acquired companies outside India. These include Ganz (Hungary), Microsol (Ireland), Sonomatra (France), MSE Power Systems (USA), and ZIV (Spain).

Crompton Greaves is a part of the US$4 billion Avantha Group, and is headquartered in a building CG House at Worli, Mumbai. In 2009 Crompton Greaves adopted a new brand identity and is since known as CG.

Crompton Greaves made series of acquisitions overseas which included [4]- ZIV Group for Euro 150 Mn, QEI Inc, provider of SCADA and automation systems for $30.0 Mn and Emotron Group, a power electronics and engineering company, for $82.3 Mn (57.8 Mn Euros).

In September 2012, HSBC Global Investment Funds raised its stake in Crompton Greaves from 1.29% to 2.68% through bulk deal on BSE for R927.3 million.

In March 2009, Crompton Greaves acquired 41% stake in Avantha Power & Infrastructure Limited for R2.27 billion.

Currently, Mr Gautam Thapar is the chairman of the board, and Mr K. N. Neelkant is the CEO and Managing Director of the company.

CG has delivered transformer equipment to the Danish Anholt Offshore Wind Farm, and is scheduled to deliver 6 transformers for the Kriegers Flak offshore windfarm.[5]

Products & Services

Offices in India

Awards

References

  1. ↑ "Crompton Greaves adopts new brand identity as global power company – Money – DNA". Dnaindia.com. 19 October 2009. Retrieved 2010-12-23.
  2. ↑ http://www.cgglobal.com/pdfs/Aud-FinRes-consolidated_1415.pdf
  3. ↑ PTI, 30 Mar 2010, 12.19 pm IST (30 March 2010). "Crompton Greaves completes acquisition of PTS for 30 mn pounds – The Times of India". Timesofindia.indiatimes.com. Retrieved 2010-12-23.
  4. ↑ http://www.dealcurry.com/20130114-Crompton-Greaves-To-Acquire-Lighting-Division-Of-Karma-Industries.htm
  5. ↑ http://energiwatch.dk/secure/Energinyt/Renewables/article8361901.ece
  6. ↑ http://www.cgglobal.com/frontend/Crompton.aspx?cnl1=KV1SpKMjSGM=
  7. ↑ http://www.cgglobal.com/frontend/finalnonproduct.aspx?cnl2=3G3ss5YkJ3g=

External links

This article is issued from Wikipedia - version of the 11/1/2016. The text is available under the Creative Commons Attribution/Share Alike but additional terms may apply for the media files.