The legacy of Pauwels Trafo continues
Egypt, Cairo: Belgium, Mechelen: Elsewedy Electric Elsewedy Electric has completed the acquisition of 95 % of PT CG Power Indonesia.
Image source: Elsewedy Electric
Egypt, Cairo: Elsewedy Electric Elsewedy Electric has completed the acquisition of 95 % of PT CG Power Indonesia.
Elsewedy Electric has completed the acquisition of 95 % of PT CG Power Indonesia, a prominent manufacturer of power transformers in Indonesia. The Company was established in 1990 as a 50:50 joint venture between Pauwels International NV and PT.
The share purchase agreement was signed on 9 February 2021. The acquisition was completed on 6 May 2021 in accordance with the resolution of the General Meeting of Shareholders of the Company.
It is important to mention that, by virtue of this transaction, Elsewedy Electric has also acquired the technological know-how, intellectual property, copy rights, titles, design software, design manuals and engineering tools that were created under the umbrella of Unipower of Pauwels Belgium for worldwide use and applications.
Therefore, Elsewedy Electric has the full rights to continue to use the processes, manufacturing philosophy, testing and quality management systems that were developed and implemented under the umbrella of Pauwels Belgium over roughly the last 3 decades.
The company has announced that all employees will continue the journey with Elsewedy Electric, including the teams located overseas in New Zealand, Australia, Malaysia, Vietnam and elsewhere in the region.
Read this article by Chris Gerber to find out more about other recent developments in CG.
Source: Elsewedy Electric