Salzer Electronics Limited’s Promoter stake increases by 2%
Company stands at 36% - from 34% earlier
Deepthi | Myequity news | Date : 10-09-2018 18:10:00 IST
Salzer Electronics Limited, is happy to announce that the Promoters have increased their stake by 2% in the Company and thereby their total equity stake has gone up from 34% to 36%.
Commenting on the development, Mr. S Baskarasubramanian, Director (Corporate Affairs) & Company Secretary said, “We are happy to share that the Promoters of the company are fulfilling their part of the commitment to increase stake gradually in the Company to the level of over 40% in the next two-three years, demonstrating their strong and continued confidence and conviction in our Company’s vision and growth plans.”
About Salzer Electronics:
Salzer is a Leading player offering Total and Customized Electrical Solutions in Switchgears, Wires & Cables and Energy Management business. It is the largest manufacturer of CAM Operated Rotary switches & Wire Ducts in India, with a market share of 25% & 20% respectively. The Company caters to a wide range of products with five In-house manufacturing facilities, located in Coimbatore. The Company has a wide distribution network locally and globally, exporting to more than 50 countries. In India, Salzer markets its products through its own distributors and more than 350 local distributors of L&T. The Company has a strong R&D team that focuses on developing and commercializing the technologies of the products, and as a result, can offer total customized electrical solutions to its customers.