Paharpur Cooling to acquire US-based SPX’s unit for Rs320 crore
Paharpur described the deal as a strategic acquisition aimed at expanding its global reach
Kolkata: Paharpur Cooling Towers Ltd, a privately held provider of industrial cooling systems, on Monday said it has concluded an agreement to acquire a division of US-based SPX Cooling Technologies Inc. for $48 million ( ₹ 320 crore).
The dry cooling unit to be bought by Paharpur is a supplier of cooling solutions to power plants. Headquartered in Brussels, the firm has installed its cooling systems across the world in around 200 power plants.
It has a large factory in China and a joint venture with Shanghai Electric Group. The transaction includes this joint venture as well.
Paharpur described the deal as a strategic acquisition aimed at expanding its global reach and at building capacity to provide better solutions to Indian power producers.
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