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Indo Asian Fusegear Ltd has
undertaken a two-fold strategic
restructuring involving its existing
group company Indo Asian Marketing
Pvt Ltd, and a new proposed entity
Advanced Metering Technology Ltd.
As per the scheme, Indo Asian
Marketing Ltd will be merged with
Indo Asian Fusegear Ltd (IAFL). Post
merger, the metering, institutional
and the proposed power business of
IAFL will be hived off into the new
company Advanced Metering
Technology Ltd, which will be listed
on stock exchanges.
After the restructuring, IAFL will
focus on wires, cables, wiring
accessories and power conservation
products for which investments are
allocated for adopting new products
and new designs. It may be mentioned
that in the second half of 2010, IAFL
sold off its switchgear business to
Legrand, resulting in significant cash
flows into the company.
According to V. P. Mahendru, CMD,
Indo Asian Fusegear Ltd, "The
company sees good potential of
growth in renewable energy power
generation wind and solar power and
is already in talks with various
companies for acquisition, joint
ventures, etc. The company also has
plans to venture into the production
of new innovative LEDs and energy
conservation lighting controls and
products for improving cost
efficiencies, services and performance
for its customers."
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