McNally Bharat Acquires Humbolt Wedag For $16 Mn
Khaitan Group company - McNally Bharat Engineering Company Ltd has acquired the coal and mineral technology business of Humboldt Wedag GmbH through its wholly owned Singaporean subsidiary - MBE Holding Pte Ltd for $16 mn.
The company has made a upfront cash payment of $7.5 mn and the balance goes towards the statutory liability on account of workshop employees who have been absorbed.
MBE Holding Pte Ltd designs mineral benefication plants and coal washeries. It operates through four subsidiaries:
- MBE Coal & Minerals Technology GmbH, Cologne, responsible for markets in Europe, North & South America, Russia & China
- MBE Minerals SA Pty Ltd, South Africa is responsible for Africa market
- MBE Humboldt Wedag India Pvt Ltd is responsible for Indian market
- Cologne Engineering GmbH is a manufacturing unit based in Cologne, primarily making equipment for the cement Industry
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