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Luminous Power scouts for new acquisitions

India’s Dazzling Power Technologies said it’s on the lookout for domestic acquisitions to development its market share, and has as much as Rs 300 crore ($62 million) to invest, according to the Press Trust of India.

The company makes diggings solar inverters, uninterruptible power supply (UPS) systems, batteries and other renewable animation products. Founded in 1988, Luminous markets its products in more than 32 countries.

"We have recently acquired a more than half stake in Delhi-based UPS manufacturer Tritronics India, and we are looking for more acquisitions in the indigenous market," Rakesh Malhotra, Luminous Power Technologies naught told PTI.

Last week, Luminous, with technology centers in India, the In accord States and China, made its second acquisition of the year in Tritronics India for an undisclosed amount (see BRIC’s eyes on hydro as sector draws $600M ).Tritronics works in the power back-up dealing, selling UPS systems on-line and also manufacturing inverters and power conditioning products.

Source: Cleantech Group

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