Manufacturer of electricity transmission towers, KEC International Ltd said it plans to acquire US-based SAE Towers Holdings LLC and its operating subsidiary companies in Brazil, Mexico and the US. No financial details were provided.
SAE Towers has manufacturing facilities in Brazil and Mexico. It also has a tower test station in Brazil. SAE Towers is engaged in manufacturing and supply of power transmission towers, related hardware, sub-station structures and poles for power transmission.
On Tuesday, KEC International shares ended 1.7% up at Rs494 on the Bombay Stock Exchange, while the benchmark Sensex gained 0.5% to 18,645 points.
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