Comments
The Avantha Group company CG has announced the sale of its Canadian power transformer business to PTI Holdings Corp for C$20 million. The deal is subject to post-closing adjustments and regulatory approvals. The transfer of the business will be effective October 27, CG said in a statement. In 2005, CG took over the transformer business as a part of the acquisition of the Pauwels group. The business unit is based in Winnipeg, Canada. It manufactures power transformers for utilities across Canada. It manufacturing capacity is 7,200 MVA per year and it employs around 200 people, the statement said.
Comments
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.