|Crompton Greaves Ltd is one of the world`s leading engineering corporations. The company provides end-to-end solutions, helping its customers use electrical power effectively and increase industrial productivity with sustainability. Their unique and diverse portfolio ranges from transformers, switchgear, circuit breakers, network protection & control gear, project engineering, HT and LT motors, drives, lighting, fans, pumps and consumer appliances and turnkey solutions in all these areas; thus enhancing the many aspects of industrial and personal life.
The company operates in four segments: Power Systems, Consumer Products, Industrial Systems and Others. The Power Systems include transformer, switchgear, turnkey projects and power Supervisory control and data acquisition systems (SCADA). The Consumer Products business supplies fans, lighting equipment (light sources and luminaires), pumps, range of electrical household appliances and provides solutions for integrated security systems, home automation and street lighting. The Industrial Systems include electric motors, alternators, drives, traction electronics and SCADA.
Crompton Greaves Ltd, a part of the Avantha group was established in the year 1937 in Mumbai as a private sector under the name of Crompton Parkinson Works Ltd. In the year 1947, with the dawn of the independence of India, the company was taken over by Lala Karamchand Thapar, an eminent Indian industrialist who formed the Thapar Group. In the year 1966, Greaves Cotton & Crompton Parkinson Ltd was amalgamated with the company and the name was changed to Crompton Greaves Ltd.
In the year 1975, the company made technical collaboration agreement with Hitachi Ltd, Japan for the manufacture of moulded case circuit breakers. In the year 1978, they entered into various technical collaboration agreements with several renowned manufacturers from USA, UK, Europe and Japan. In the year 1981, Kerala Electric Lamp Works Ltd (formerly Toshiba Anand Lamps Ltd) became a subsidiary company.
In the year 1986, the company jointly with the Punjab state Industrial Development Corporation Ltd promoted a company under the name Punjab Power Generation Machines Ltd for the manufacture of hydro turbines upto 20 MW in Punjab. Also, the company in association with Economic Development Corporation of Goa, Daman & Diu Ltd promoted a company under the name of Goa Electricals and Fans Ltd for the manufacture of ceiling fans in Goa.
In the year 1987, the company commissioned an up-to-date plant for the manufacture of vacuum interrupters and manufacture of industrial electronic items, signaling systems at Aurangabad and Nasik respectively. Also, they commissioned an instrument relays project at Pithampur. In the year 1988, the company developed and introduced supervisory control and data acquisition and programmable logical controllers. Also, the company under joint venture set up and commissioned two plants for the manufacture of telematics at Goa and television receivers at Pithampur.
In the year 1990, the company commissioned the rural telecommunication unit at Bangalore, the transformers unit at Malanpur, M.P and vacuum fluid purifier plant at Aurangabad. Also, the company in association with Teltec of Denmark promoted a joint venture company under the name of CG-Teltec Ltd for the manufacture of radio communication equipment. Also, Kerala Electric Lamp Works Ltd (KELW) was amalgamated with the company. In the year 1992, the R&D unit of the company developed new products like DC/AC current sensor and mixed dielectric insulation system for 220 KV coupling capacitors. They set up a joint venture project for manufacture of electric meters at Gurgaon. Also, they commissioned a plant for manufacture of lithium batteries at Goa.
In the year 1994, the company submitted their bid to DOT for provision of cellular services in seven circles in association with Millicons of Luxembarg. Also, they promoted CG Communication Pvt Ltd to provide cellular mobile telephone services in the telecom services in India. In the year 1995, the company set up a modern transformer factory with the latest manufacturing equipment at Bhopal. Also, Hind Condensor Ltd, Goa Telematics Ltd (GTL) and Northern Digital Exchanges Ltd (NODE) were amalgamated with the company.
In the year 1996, the company was restructured in four main business group viz. Power system, Industrial system, consumer products and Digital to ensure enhanced focus and effectiveness. The Indocom Industries Ltd, a 100% subsidiary of the company and Lumino Lamps Ltd were amalgamated with the company. In the year 1997, Kersons Manufacturing Company of India Ltd (Kersons) and Goa Electricals and Fans Ltd (GEFL) were amalgamated with the company. In the year 1998, the company formed an alliance with Link Middle East Ltd (LMEL) for the manufacture the medium voltage vacuum switchgear at Dubai,
In the year 1999, the company signed an MoU with Israel based Tadiran Telecommunications Ltd for marketing and servicing Tadiran`s Coral range of telecommunication product in the Indian subcontinent. Also, they entered into a technical collaboration with Allied Signal Inc. for manufacturing Amorphous Metal Transformers (AMT). In the year 2000, the informatics division of the company made a tie up with Remedy Corporation for consultation, implementation and training of eCRM and eBusiness infrastructure solutions in India. The company signed an agreement with French company Schneider Electric for selling its low-tension control gear business located in Nasik in Maharashtra. Also they entered into an agreement for sale of its Low Tension Control Gear division located at Satpur, Nashik to Schneider Electric India Ltd for approximately Rs 76 crore.
In the year 2001, CG-Digital, a business unit of the company launched a new range of digital and KTS/EPABX systems to suit varying needs of communication. In a bid to reduce its manufacturing costs, LM Thapar Group Company of Crompton Greaves has begun importing electrical components from Chinese manufacturers for their consumer products division. In the year 2002, the company divested their shareholding of 38% in CG Newage Electrical Ltd to Cummins India Ltd with the consideration of Rs 220.50 per share.
In May 2005, the company acquired the Belgium-based Pauwels Group, a company internationally known for their transformer manufacturing and service capabilities. Since 2005, the company embarked upon an ambitious globalization strategy, growing both organically and inorganically, drawing into their fold leading international companies such as Pauwels, Ganz, Microsol, Sonomatra, MSE and PTS. Consequent to this globalisation, the company now enjoys manufacturing bases in Belgium, Canada, Hungary, Indonesia, Ireland, France, UK and US, in addition to more than twenty manufacturing locations in India.
In the year 2006, the company acquired 59% shareholding in Malanpur Captive Power Ltd (MCPL). During the year 2006-07, the company acquired Ganz Transelektro Villamossagi Zrt and its associate company, Transverticum Kft in Hungary. Also, the company`s Indian Power Systems business opened 9 new International markets for their products. The HT motors division of the company succeeded in extending the 11 kV range of HT motors to 1,750 kW. They also obtained and executed several new orders for refineries and cement plants. The company set up a captive glass shell manufacturing unit and a new line for FTL at Baroda.
In May 30, 2008, the company acquired France based Societe Nouvelle de Maintenance Transformateurs (Sonomatra). In September 12, 2008, the company acquired USA based MSE Power Systems Inc and its subsidiary company - MSE West LLC (MSE Group).
In August 2009, the company acquired 81,60,000 equity shares comprising 51 % share capital of Brook Crompton Greaves Ltd (BCGL), a joint venture between the company and BTR (European Holding) BV. BCGL thus became a 100% subsidiary of the company. In March 29, 2010, the company acquired Power Technology Solutions Ltd (PTS), a UK-based high voltage electrical engineering company to provide integrated solutions, services and products.
During the year 2010-11, the company established a branch office at Poland. To consolidate their market share in the Middle East market, the company entered into a strategic alliance with the EIC Group, from Saudi Arabia, for establishment of 2 joint venture companies - Saudi Power Transformers Company Ltd (SPTC) and CG Power Systems of Saudi Arabia Ltd (PS SA). SPTC will strengthen the company`s manufacturing presence of medium power transformers in Saudi Arabia, whilst PS SA will enhance the company`s EPC footprint in Saudi Arabia and other Middle East countries. The company holds a 49% equity stake in SPTC and a 51% equity stake in PS SA, through its overseas subsidiaries, CG Power Systems Belgium N.V. and CG Holdings Belgium N.V. respectively.
In April 29, 2010, the company concluded an arrangement for acquiring three businesses of Nelco Ltd namely, traction electronics, SCADA and industrial drives for a value of approximately Rs 92 crore. In July 6, 2010, the company completed the amalgamation of their wholly-owned subsidiary, Brook Crompton Greaves Ltd with them.
In November 2010, the company established CG-ZIV Power Automation Solutions Ltd (CGZIV), a joint venture company in India with ZIV Aplicaciones y Tecnologia, S.L. (ZIV), for the manufacture of Substation Automation systems for substations in EHV and UHV range. In January 28, 2011, the company approved the amalgamation of CG Capital and Investments Ltd (CG Capital), the company`s wholly-owned subsidiary with the company.
In May 2011, the company was awarded a contract for acting as the distribution franchisee of Maharashtra State Electricity Distribution Company Ltd (MSEDCL) for power distribution in the Jalgaon Circle (Maharashtra) for a period of ten years. In May 19, 2011, the company acquired Emotron of Sweden for an enterprise value of Rs 57.8 million. In May 27, 2011, they acquired QEI Inc of USA, a provider of automation systems and products for power transmission and distribution, for an enterprise value of USD 30 million.|