McNally Bharat acquires German co

Industry:    April, 2016

McNally Bharat Engineering Company Ltd has acquired the worldwide coal and minerals processing business and equipment manufacturing facility of KHD Humboldt Wedag, a German engineering company, for an undisclosed amount.

McNally on Friday informed the BSE that the company’s wholly owned Singapore-based subsidiary, MBE Holdings Pte Ltd, entered into purchase agreements on August 20 for the acquisition of unlisted KHD Humboldt Wedag’s global coal- and minerals-related business and its manufacturing facility in Cologne.

In May, McNally had signed an MoU for the acquisition. KHD Humboldt Wedag has proprietary technologies, equipment and engineering/design services for cement, coal and minerals’ processing with an annual turnover of $50 million.

print
Source: