Salasar Techno Engineering Acquires EMC for ₹178 Crore

Salasar Techno Engineering Ltd (STEL) has completed the acquisition of engineering, procurement, and construction (EPC) firm EMC Ltd for a total of ₹178 crore. STEL announced on Wednesday that it has paid the remaining ₹168 crore as the balance payment, finalizing the purchase through an insolvency process.

In a statement, STEL confirmed the acquisition, noting that the deal was facilitated by a liquidator via an e-auction. "Salasar successfully concludes the payment of ₹168 crore for the acquisition of EMC Ltd. In March, Salasar bought EMC through an e-auction facilitated by the liquidator. The acquisition is valued at ₹178 crore," the company said.

This acquisition aligns with STEL's objective to bolster its market presence as a leading engineering and infrastructure company. EMC Ltd's integration into STEL's operations is expected to strengthen the company's capabilities and expand its portfolio in the engineering and infrastructure sectors. Salasar Techno Engineering is known for its manufacturing of steel structures, which could complement the business areas of EMC Ltd.

The acquisition of EMC Ltd through the insolvency process represents a strategic move by STEL to enhance its competitiveness in the engineering and infrastructure market. It also reflects the company's commitment to growth through strategic acquisitions and integration of complementary businesses.

ET