Siemens has received an approval for acquisition of 100% equity shares of Siemens Rail Automation (SRAPL) from Siemens International Holding BV, Netherlands (99.99%) and Siemens AG (0.01%) for a consideration of Rs 55 crore. The board of director at its meeting held on January 30, 2014 has approved for the same.
SRAPL is engaged in the business of manufacture, supply, design, installation and commissioning of Railway Signaling equipments consisting of trackside and on board equipment. The business is complementary to the existing business of the company and should provide significant synergies.
Siemens is the flagship listed company of Siemens AG in India and is a major player in the electronics and electrical engineering business. Germany’s Siemens AG holds a 75 per cent stake in the company.
SRAPL is engaged in the business of manufacture, supply, design, installation and commissioning of Railway Signaling equipments consisting of trackside and on board equipment. The business is complementary to the existing business of the company and should provide significant synergies.
Siemens is the flagship listed company of Siemens AG in India and is a major player in the electronics and electrical engineering business. Germany’s Siemens AG holds a 75 per cent stake in the company.
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