Salasar Techno Engineering Ltd has completed the process to acquire EMC Ltd through an insolvency process. Acquisition has been executed in compliance with the terms and conditions and that a “sale certificate has been issued by the Liquidator in favor of Salasar confirming completion of sale”.
The total acquisition cost of the engineering, procurement and manufacturing (EPC) firm is Rs 178 crore, STEL.
On the objectives behind the acquisition, STEL said the integration of EMC Ltd will strengthen its market position as a leading engineering and infrastructure company. STEL is also into manufacturing of steel structures.