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Brazilian WEG acquires CG Power USA Inc. [free access]

August 15, 2017

Brazil-based WEG SA has acquired US-based CG Power USA Inc., the power and distribution transformers arm of the Indian group Crompton Greaves (CG). The conclusion of the transaction will only take place after compliance with certain precedent conditions required for the deal.

 

The US arm of CG specialises in the manufacturing, assembly, supervision and commissioning services of power and distribution transformers up to 60 MVA and 161 kV capacity. The company has three manufacturing plants and reported USD128 million net revenue in 2016-17. Since CG has significant share in the transformers’ market for wind sites and solar farms in the US, this acquisition will help WEG to expand its business in North America.