CG sells off its Cana­dian power trans­former busi­ness

Electrical Monitor - - NEWS -

van­tha Group Com­pany CG has an­nounced the sale of its Cana­dian Power Trans­former (CPT) busi­ness to PTI Hold­ings Cor­po­ra­tion for an en­ter­prise value of C$20 mil­lion (around ₹ 98.50 crore) sub­ject to post-clos­ing ad­just­ments. The struc­ture of the deal and its com­mer­cial terms re­main sub­ject to ap­pli­ca­ble reg­u­la­tory ap­provals. The trans­fer of the busi­ness will be ef­fec­tive on Oc­to­ber 27, 2015, CG said in a release.

PTI Hold­ings Cor­po­ra­tion is an in­no­va­tive leader in the elec­tri­cal in­dus­try, pro­duc­ing some of the most ground­break­ing, cost-ef­fec­tive and high qual­ity so­lu­tions for trans­form­ers glob­ally. The com­pany cur­rently man­u­fac­tures and ser­vices liq­uid filled dis­tri­bu­tion, small and medium size power trans­form­ers up to a base rat­ing of 40MVA at 145kV.

In 2005, CG at­tained CPT as part of the ac­qui­si­tion of the Pauwels group. CPT is based in Win­nipeg, Man­i­toba, Canada. It man­u­fac­tures medium and large power trans­form­ers for Util­i­ties across Canada. CPT’s man­u­fac­tur­ing ca­pac­ity is 7,200 MVA per year and it em­ploys around 200 peo­ple. This ac­qui­si­tion will fur­ther re­in­force the of­fer­ings of PTI and their com­mit­ment to fur­ther de­velop the busi­ness, the release added.

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