Elsewedy Electric enters Asian market after acquiring US$60m shares in two companies

EGYPT – Elsewedy Electric, an Egyptian multinational electrical company, has entered the Asian market through its acquisition of shares in two companies involved in the transformer sector in Indonesia and Pakistan, valued at US$60 million. The company said in a statement that it acquired 95% of PT CG Power Indonesia, which specialises in manufacturing electrical transformers in Indonesia. The company has a production capacity of 10,000 MW, and provides maintenance services for the duration of the transformers’ lifetime, in addition to the construction of transformer substations. Elsewedy added that it…

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