Crompton Greaves buys US firm

New Delhi: Crompton Greaves has acquired US-based MSE Group, an engineering, procurement and construction (EPC) contractor for $ 16 million (about Rs 72 crore).

MSE Group is into the business of constructing high voltage electric power systems.

“This acquisition will increase the company's strength as a systems integrator in the EPC international business arena, particularly in the renewable energy (wind) segment,” Crompton Greaves said in a statement to the Bombay Stock Exchange.