Toshiba Corporation, a diversified electric/electronic manufacturer, announced recently the completion of its acquisition of the power transmission and distribution businesses of Indian manufacturer Vijai Electrical Ltd, effective 27 December 2013.
Financial details of the acquisition were not disclosed.
These acquired assets include power transformer, distribution transformers and switchgear businesses.
With the completion of the acquisition, a new Toshiba subsidiary, Toshiba Transmission & Distribution Systems (India) Pvt Ltd (TTDI), will run the acquired businesses and provide them with Toshiba's latest design, development and production capabilities in order to supply a wide range of T&D products globally as well as in India.
Also, TTDI will deploy businesses in other areas, such as EHV and high voltage direct current power transmission, static var compensators for high voltage networks and railway power supply system, in India.
According to Toshiba, this acquisition allows it to make a full-scale entry into India's T&D market, where the company aims to capture 20% share in five years.