Crompton Greaves to acquire lighting unit of Karma Industries

Crompton Greaves today said it will acquire compact fluorescent lamp (CFL) manufacturing business of Himachal Pradesh-based Karma Industries.

The acquisition, which will double Crompton's capacity in the CFL segment, will be integrated with the Consumer Business unit of the company, Crompton Greaves (CG) said in a release.

Karma's unit is located at Baddi in Himachal which is spread across 4,500 square metre and employs about 50 people.

"I am pleased to welcome the Karma family to CG. This acquisition reinforces our presence in the rapidly growing Indian consumer market. The state-of-the-art facility can manufacture two million lamps per month, not only providing us with immediate capacities but also allowing us to offer a complete range of CFL lamps," Crompton Greaves CEO and MD Laurent Demortier said.

However, the company did not reveal financial details of the deal.

Crompton's president (consumer business) Ash Gupta said, "I am pleased to acquire an advanced manufacturing set up. It will enable us to better serve our customers and channel partners with high quality products."