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Centum Electronics Ltd — Capital/Financing Update 2020
Aug 18, 2020
61011_rns_2020-08-18_d7a56ae6-3d5c-45a9-ab45-f0f5f036b641.pdf
Capital/Financing Update
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Ref: CEL/NSEBSE/PR/18082020 18[th] August, 2020
To,
Listing Department Department of Corporate Services ‐ Listing National Stock Exchange of India Limited BSE Limited Exchange Plaza, P. J. Towers, Bandra Kurla Complex, Dalal Street, Bandra (East), Mumbai – 400 001 Mumbai – 400 051
Re: Scrip Symbol: CENTUM/ Scrip Code: 517544
Dear Sir/ Madam,
Sub: Press Release – Centum Electronics announces the divestment of the Energy division of its French subsidiary, Centum Adetel Group
We are enclosing herewith the copy of the press release titled “ Centum Electronics announces the divestment of the Energy division of its French subsidiary, Centum Adetel Group .”
This is also hosted on the Company’s website at https://www.centumelectronics.com
Kindly take the same on your records.
Thanking you,
Yours faithfully,
For Centum Electronics Limited Digitally signed by NAGARAJ K V NAGARAJ K V Date: 2020.08.18 18:34:03 +05'30'
Nagaraj K V Company Secretary & Compliance Officer
Encl: as above
Centum Electronics Limited
44, KHB Industrial Area, Yelahanka New Town, Bangalore - 560 106, Karnataka, India Tel +91-(0)80-4143-6000 Fax +91-(0)80-4143-6005 www.centumindia.com CIN - L85110KA1993PLC013869
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Press Release
Centum Electronics announces the divestment of the Energy division of its French subsidiary, Centum Adetel Group
Bangalore, 18[th] August, 2020:
Centum Electronics Limited is pleased to announce the divestment of the Energy division of its subsidiary in France Centum Adetel Group (CAG) for a total consideration of Euro 9.8 million to Chauntie Electric (Tianjin) Co., Ltd.
65% of the above amount, Euro 6.37 million has been received by the French subsidiary and the remaining 35% will be received after a transition period of 2 years.
CAG is a subsidiary of Centum Electronics Limited with operations in France, Belgium and Canada. CAG is in the business of delivering Engineering services and product solutions to customers in Defence & Aerospace, Medical, Automotive, Industrial and Transportation segments. The Energy division of Centum Adetel Group delivers Energy Conversion and Storage systems to international train manufacturers.
Chauntie Electric (Tianjin) Co., a corporation incorporated under the Laws of People’s Republic of China is engaged in the business of Transportation and Railway products.
About Centum Electronics:
Founded in 1993, Centum Electronics Limited (Centum) is a leading Electronics System Design and Manufacturing (ESDM) company. Centum has competencies to design and manufacture complex and critical products, supplying to marquee customers in the most advanced economies as well as in India. Centum offers the entire spectrum of design services, manufacturing services and turn-key solution to deliver systems and subsystems for mission critical products in Defence, Space, Aerospace, Industrial, Transportation and Medical sectors. The Company has world-class design & manufacturing facilities across North America, Europe and India, with cutting edge infrastructure as well as a global supply chain capable of delivering products with high quality and reliability anywhere in the world.