News Releases 2016Acquisition of a Majority Stake in an Indian Transformer Company

Meidensha Corporation (“MEIDEN”) has signed a contract with Prime Meiden Limited (“PML”) and its shareholders to purchase additional shares and acquire a controlling stake in PML, an affiliate company of MEIDEN.

 

MEIDEN invested in March 2014 in Prime Electric Limited, an Indian power transformer company, which became PML in May 2014. Since then, MEIDEN has been providing assistance to PML by posting engineers at PML in enhancing its technical capabilities and expanding its market reach in India and abroad.


In India and other emerging countries, investment in power infrastructure is expected to grow to meet the ever increasing need of electricity, providing a high growth potential for power transformers in a medium to long term. In its transmission and distribution (“T&D”) business, MEIDEN has been promoting the overseas expansion of its products and projects in Southeast Asia through its production bases in Singapore for transformers and switchgear, but for further expansion into emerging countries, MEIDEN finds it necessary to increase its production capacity and improve ability to meet price and delivery requirements.


To promote further overseas expansion, the MEIDEN Group will integrate PML, now a Meidensha’s subsidiary, into the Group as a strategic production base for large capacity power transformers, both finished and semi-finished, as well as a procurement base for transformer materials and components. With this new strategic base, the MEIDEN Group will take further steps forward in its overseas expansion not only in India’s power generation, T&D and railway markets, but also power equipment markets in Southeast Asia and other emerging countries in the west of India.

 

 

About Prime Meiden Limited

Headquarters: Gurgaon, Haryana

Number of Employees: 445

Founded in:2008

Business: Manufacturing of power transformers and EPC contracting of T&D projects

 

Contact at Meidensha on this press release:

Overseas Business Strategic Management Group

Meidensha Corporation

Tel: +81-3-6420-8244