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| Hager Group acquires ELCOM of Germany |
| Bs Reporter / Mumbai/ Pune Feb 23, 2012, 00:19 IST |
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Pune-based Hager Group, a supplier of systems, solutions and services for electrical installations, informed that it has acquired Elcom International, a German company in video door phone domain at an undisclosed value.
With this acquisition, Hager Group also acquired over 51 per cent stake in Elcom Door-Communications (I) Pvt. Ltd, an Elcom joint venture in India and is therefore now a close partner of Elcom Door-Communications Pvt. Ltd.
The company maintained that the acquisition would strengthen its activities in the Brazil-India-China (BIC) countries.
"With Elcom, we have won a new and qualified partner, who in the past has proven their competency by growing steadily and dynamically. We are full of confidence to further fuel this growth in this promising, dynamic and fast growing Indian market," Daniel Hager, CEO, Hager group said.
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