ABB to buy Metsys Engineering for Rs8.5 crore

Engineering company, ABB Ltd, said it will acquire Bengaluru-based Metsys Engineering and Consultancy for about Rs8.5 crore.

Metsys provides engineering services to original equipment manufacturers (OEMs) and end customers mostly in metal industry.

The acquisition will help ABB to further strengthen its position in the metals business, said the company in a regulatory filing. 

On Tuesday, ABB shares ended 0.8% up at Rs789 on the Bombay Stock Exchange, while the benchmark Sensex closed 0.7% up at 19,346 points.

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Suzlon Energy’s unit wins 50 MW order

Wind turbine manufacturer, Suzlon Energy Ltd said its unit Suzlon Energy (Tianjin) has received a 50MW order from one of China's five largest power producers. No financial details were provided.

The contract comprises 24 units of the Suzlon S88 turbines, each with a rated power of 2.1 MW, said the company in a regulatory filing.

The turbines will be delivered between October and December 2010. This order will increase Suzlon's installation base to 1,119.8 MW in China.

On Tuesday, Suzlon Energy shares rose 1.4% to Rs51 on the Bombay Stock Exchange, while the benchmark Sensex closed 0.7% up at 19,346 points.

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KEC International to buy railway signalling co for Rs14 crore

RPG group company KEC International Ltd said it will buy railway signalling company Jay Railway Signalling Pvt Ltd (formerly known as Jay electrocom Industries) for Rs13.96 crore.

"In order to diversify our portfolio, we took a strategic decision to create a separate division for railway and today we have a visibility of Rs450 crore with order book of Rs300 crore and L1 position of another Rs150 crore," said Ramesh Chandak, managing director and chief executive, KEC International.
The company expects to close the deal by this month end.

On Tuesday, KEC International shares ended 0.4% up at Rs537 on the Bombay Stock Exchange, while the benchmark Sensex closed 0.7% up at 19,346 points.

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