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Numeric Power sells UPS business to Legrand
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EM NEWS BUREAU
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Thursday, March 15, 2012, 12:45 Hrs [IST] |
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Chennai-based Numeric Power
Systems Ltd has reportedly planned
to sell its uninterruptible power systems
(UPS) division to Legrand at a total value
of Rs.837 crore. The business will be
transferred to Indo Asian Electric Pvt Ltd,
which incidentally was acquired by
Legrand SA last year.
Both Legrand and Numeric have
understood to have entered into a
definitive business transfer agreement.
The Chennai-based company will
continue to carry out its other businesses
like renewable energy (mainly solar and
wind), iron foundry production and LED
lighting. Numeric currently derives 75 per
cent of its revenue from the UPS business.
Numeric is likely to keep solar power as
its immediate focus. Numeric will also
undertake EPC jobs in the solar power
space for which it currently has a
handling capacity of 25 mw.
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