Crompton Greaves acquires US firm

Electrical equipment manufacturer Crompton Greaves says it has acquired US-based MSE Group, an engineering, procurement and construction contractor, for $16 million.

Electrical equipment manufacturer Crompton Greaves on Monday said it has acquired US-based MSE Group, an engineering, procurement and construction (EPC) contractor, for $16 million (Rs 736 million).

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MSE Group is into the business of constructing high voltage electric power systems.

"This acquisition will increase the company's strength as a systems integrator in the EPC international business arena, particularly in the renewable energy (wind) segment," a company statement said.