|
| Exchange Disseminated Time | Kavveri Telecom Products Ltd has informed BSE that the Board of Directors of the Company at its meeting held on May 20, 2011, has approved the acquisition of an RF Company in Europe by Kavveri Telecom Products Ltd.
The Board further authorized Mr. C Shivakumar Reddy, Managing Director and Mr. William R McBride, Executive Vice-President (Acquisitions and Strategic Relationships) to take necessary steps required to complete this Acquisition transaction.
The RF solutions and products provided by this European Company are considered world class, not only addresses a key technology requirement for the Company, but will also provide a further opportunity to improve their business performance by leveraging Kavveri's low cost high value manufacturing capabilities. This acquisition will facilitate Kavveri to go one step ahead in its strategic initiative of making its facilities in India the global manufacturing hub. This acquisition will also expand Kavveri's sales channels for their products in key world markets in Europe, Africa and Latin America. Kavveri has recently bagged an order of Rs. 750 miln from Europe and the company hopes that by this acquisition in Europe and thereby getting established in Europe, would give it better position to get large orders from the customers in Europe. (For more details kindly refer Corporate Announcements on www.bseindia.com). |
|
|