City
Epaper

PIGL's Move To Acquire Peaton Electricals Enhancing Product Portfolio With Siemens Certification

By ANI | Updated: December 24, 2024 10:40 IST

PNNMumbai (Maharashtra) [India], December 24: Power & Instrumentation (Gujarat) Limited, (NSE - PIGL, BSE - 543912), one of ...

Open in App

PNN

Mumbai (Maharashtra) [India], December 24: Power & Instrumentation (Gujarat) Limited, (NSE - PIGL, BSE - 543912), one of the leading players in the electrical contracting and equipment industry, is set to enhance its growth trajectory by increasing its shareholding in Peaton Electricals Company Limited (PECL) from 15% to a 60%. This strategic move aligns with PIGL's vision to strengthen its position in the electrical manufacturing sector.

PECL has recently secured a prestigious license from Siemens to manufacture, assemble, and sell SIEPAN 8PU low-voltage switchboards. This achievement highlights PECL's technological capabilities and operational excellence, enabling it to meet the growing demand for high-quality electrical solutions.

By acquiring a majority stake in PECL, PIGL is poised to unlock significant synergies. The collaboration is expected to enhance PIGL's manufacturing capabilities, expand its product portfolio, and tap into a broader market base. The addition of Siemens-certified products is anticipated to elevate the company's reputation as a provider of cutting-edge electrical solutions.

This acquisition is a strategic step forward for PIGL, promising value creation for stakeholders and reinforcing its position as a key player in the electrical equipment sector.

Commenting on the update, Padmaraj Padmnabhan Pillai, Managing Director, Power & Instrumentation (Gujarat) Limited said, "This planned acquisition marks an important step for us. By increasing our stake in Peaton Electricals Company Limited, we aim to combine PIGL's extensive market experience and operational expertise with PECL's strong capabilities, bolstered by the Siemens certification to manufacture, assemble, and sell SIEPAN 8PU low-voltage switchboards.

This certification highlights the superior quality and reliability of the solutions we will offer together. The synergy between our companies will enable us to optimize resources, expand our product portfolio, and drive innovation, ultimately positioning us to deliver enhanced value to our customers and stakeholders in the future"

(ADVERTORIAL DISCLAIMER: The above press release has been provided by PNN.will not be responsible in any way for the content of the same)

Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor

Open in App

Related Stories

InternationalFreed Israeli-American hostage Edan Alexander returns to Israel from Gaza

InternationalMcDonald’s To Hire Nearly 375,000 Employees Across US in 2025 Summer Drive

MumbaiMumbai Engineering Student Defrauded of Rs 6 Lakh by Cyber Criminals While Searching for Call Girl Services Online

NationalDrones Spotted Along IB in Samba; Armed Forces Shoot Down Surveillance Drone in Jalandhar

InternationalSyria welcomes US president's remarks on potential sanctions relief

Business Realted Stories

BusinessNaveen Patnaik highlights industrial growth of Odisha between FY 2015 to FY 2024

BusinessSikyong Penpa Tsering engages with Tibetan youth, urges unity against Chinese oppression

BusinessCentre urges states to explore possibility of setting up nuclear power plants

BusinessIndonesia: Calls for global action grow at Medan Seminar on Uyghur crisis

BusinessIndia-made defence systems now a formidable force in 21st-century warfare: PM Modi