Tuesday, September 17, 2013

Toshiba to Acquire Indian Firm for $200 Million

Toshiba has agreed to buy a major part of Vijai Electricals Ltd.'s electricity transmission and distribution business for about $200 million.
Toshiba will establish a new  company that will absorb the acquired business, and also integrate Toshiba's design and manufacturing technologies for transmission and distribution systems.
Toshiba said the new company will also enter other growing markets in India, including power-electronics systems and railway power-supply systems.

Mr. Yokota also said that Toshiba is aiming to capture a 20% market share in India within five years.

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