Dry cooling business

Paharpur acquires SPX Cooling Tech

Updated - March 24, 2016 03:35 pm IST

Published - December 15, 2015 01:49 am IST - KOLKATA:

Paharpur Cooling Towers Ltd. entered into a definitive agreement with SPX Cooling Technologies Inc to acquire its dry cooling business globally for around $48 million (about Rs.320 crores).

The transaction includes takeover of SPX’s 45 per cent ownership interest in its joint venture with Shanghai Electric Group Co. Ltd. of China, according to a company statement.

The transaction is likely to be finalised in the first half of 2016 , subject to all approvals. Headquartered in Brussels, SPX Dry Cooling is a leading supplier of dry-cooling systems globally mainly for power plants.

It has manufacturing operations in China and engineering, sales and operations in Belgium, the USA, China and South Korea

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