Crompton Greaves' Spanish connection!

Crompton Greaves Limited (CG), part of the US$ 4 bn Avantha Group, today announced that the company, has entered into Joint Venture Agreement (JV) with the Spain based ZIV Aplicaciones y Tecnologia (ZIV) to set up a JV company in India. The JV company will manufacture Substation Automation Systems for Substations in EHV and UHV range, including protective relays, differential relays, bay control units, bus-bar systems and substation units, etc.

The estimated total equity capital of this JV Company will be Rs.100 mn, out of which CG's shareholding will be Rs. 70 mn for a 70% shareholding.

S.M. Trehan, Managing Director, Crompton Greaves Ltd. said, "This JV is another step towards establishing CG as a full solutions provider company. Our partnership with ZIV will offer our valued customers a combination of European expertise with unmatched solutions and service standards."

ZIV is a key player in serving the needs of the electrical industry in Protection, Control, Measurement and Communications through state of art innovative, cost effective and customer oriented solutions in over 50 countries.