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© dimitry romanchuck dreamstime.com Business | September 10, 2013

Toshiba to acquire T&D business from Vijai Electricals

Toshiba Corporation and Vijai Electricals, an India-based manufacturer of power and distribution transformers, have entered an agreement where Toshiba will acquire the major part of Vijai’s electricity transmission and distribution business.
Toshiba will acquire the business for approximately USD 200 million. The acquisition will be completed in November 2013.

In parallel, Toshiba will establish a new company that will absorb the acquired business, and also integrate Toshiba’s design and manufacturing technologies for T&D systems. The new company will also enter other growing markets in India, including power electronics systems, such as high voltage direct current (HVDC) power transmission and static var compensators for high voltage networks (SVC), and railway power supply systems.

“The acquisition is necessary for our global T&D strategy, and Vijai’s products and sales channel provide us with an ideal fit for our T&D business in India and beyond,” said Takeshi Yokota, Corporate Vice President of Toshiba. “It will support us not only in the Indian market, where we aim to secure a 20% market share within five years, but in reinforcing our position in the global market, by strengthening our worldwide network.”

Dasari Jai Ramesh, Vijai’s Chairman added "I’m delighted to reach agreement with Toshiba, a global company. We are proud that our technology strengths and people capabilities will become part of Toshiba Group and will provide them a powerful platform for their business growth and market expansion.”

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