MR acquires Easun-MR Tap Changers (Pvt.) Ltd
MR has announced the acquisition of Easun-MR Tap Changers (Pvt.) Ltd. (EMR), a former joint venture company.
Holger Michalka, Dr. Nicolas Maier-Scheubeck, Wilfried Breuer (Image credit: Maschinenfabrik Reinhausen)
Germany, Regensburg: With effect from February 1, 2024, Maschinenfabrik Reinhausen GmbH (MR) has acquired all remaining shares of Easun-MR Tap Changers (Pvt.) Ltd. (EMR), a former joint venture company that has been operating for almost 30 years in India. This means EMR is now wholly owned subsidiary of MR without changing its independent market task. The Management of EMR will continue to be led R. Ravikumar and R. Prakash who will continue their strategy of market leadership in India.
The Indian economy has proven strong in a time of global business uncertainties and risks, with the International Monetary Fund (IMF) increasing its projections for the country and depicting it as one of the strongest growth regions. Amid this, India is said to have put the energy transition and clean energy at centre stage.
MR anticipates great business opportunities within the expanding Indian power grids and on the global stage via the export of transformers manufactured in India. The company says that acquiring the remaining shares of EMR and turning it into a wholly owned subsidiary is one step to better serve the local market’s needs in parallel to MR’s presence in India.
EMR is based in Chennai and was incorporated on October 12, 1995, as a joint venture between MR and Easun Group. The company supplies tap-changers and selected accessories to Indian transformer manufacturers. It has two factories, in Chennai and Puducherry, with approximately 400 employees, and will continue to operate independently from MR under its brand.
MR is based in Regensburg, Germany, and consists of 40 companies globally (4 in India) at 54 locations (5 in India) in 27 countries. It was founded in 1868. In the past fiscal year, its 4000 employees created a turnover of over €1 billion ($1.08 billion).
Source: Maschinenfabrik Reinhausen
#acquisition#Easun-MR Tap Changers (Pvt.) Ltd#EMR#Maschinenfabrik Reinhausen#MR