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Salzer Electronics Ltd. — M&A Activity 2019
Jul 11, 2019
61391_rns_2019-07-11_34aaef43-fb8d-4cb6-8806-357aaf94d25e.pdf
M&A Activity
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SALZER ELECTRONICS LTD.
CIN: L03210TZ1985PLC001535
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Media Release
Salzer Completes acquisition of Kaycee Industries
Acquired 72.32% shares from promoters of Kaycee Industries Ltd.
Coimbatore, July 11[th] , 2019: Salzer Electronics Limited (BSE: 517059, NSE: SALZERELEC), among leading players offering total and customised electrical solutions, announced that the acquisition of the promoters shares of Kaycee Industries Limited from the CMS group has been duly completed. This acquisition has been done as per the share purchase agreement (SPA) dated 24[th] May 2019. Open offer to the shareholders will be done in due course in accordance with our Public Announcement dated 30[th] May 2019 and in compliance with SEBI Takeover Regulations.
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Strategic acquisition in line to strengthen Company’s position in the Industrial Switchgear market
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Acquisition to aid increase product offerings and further expand its footprint into newer segments along with access to all India dealer network
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Adds to Company’s attractive product offerings making it complementary & synergistic to the existing line of business and access to a larger client base
About Salzer Electronics Limited
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Salzer is a Leading player offering Total and Customized Electrical Solutions in Switchgears, Wires & Cables and Energy Management business. It is the largest manufacturer of CAM Operated Rotary switches & Wire Ducts in India, with a market share of 25% & 20% respectively. The Company caters to a wide range of products with five In-house manufacturing facilities, located in Coimbatore.
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The Company has a wide distribution network locally and globally, exporting to more than 40 countries. In India, Salzer markets its products through its own distributors and more than 350 local distributors of L&T. The Company has a strong R&D team that focuses on developing and commercializing the technologies of the products, and as a result, can offer total customized electrical solutions to its customers.
About Kaycee Industries Limited
- Kaycee Industries (BSE: 504084), is a leading provider of electrical and electronic components in India and has a history of more than 75 years. The Company has been leading the electrical industry by way of consistent quality performance in the switches market along with development of existing and new products as per the applications. Companies manufacturing facility is located at Ambernath, Thane and employs highly motivated and skilled workforce to deliver quality products as per customers requirement
SALZER ELECTRONICS LTD. CIN: L03210TZ1985PLC001535
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- Kaycee’s principal products are Rotary Switches, Rotary Cam Switches, Micro and Toggle Switches, Weather Tight Switches, Breaker Control Switches, Counter and Fuse Fitting, etc. All its products are as per international and Indian Standards like RCS, DEF, JSS and ISS. The company clocked revenue of INR 25 crores in FY19
For further information, please contact:
Mr. Baskarasubramaniam
Ms. Savli Mangle / Mr. Smit Shah
Salzer Electronics Ltd.
Bridge Investor Relations Pvt. Ltd.
Email: [email protected]
Email: [email protected] / [email protected] www.bridge-ir.com
Caution Concerning Forward- Looking Statements:
This document includes certain forward-looking statements. These statements are based on management's current expectations or beliefs and are subject to uncertainty and changes in circumstances. Actual results may vary materially from those expressed or implied by the statements herein due to changes in economic, business, competitive, technological and/or regulatory factors. The Company is under no obligation to, and expressly disclaims any such obligation to, update or alter its forward-looking statements, whether as a result of new information, future events, or otherwise.