L&T To Put in Rs 100Cr In Rangsons

Bangalore: Larsen & Toubro (L&T), the Rs 20,000 crore engineering and construction major, has decided to put in Rs 100 crore in Mysore-based Rangsons Electronics for a 40 per cent stake. Rangsons Electronics is a Rs 70 crore electronic manufacturing solutions provider and one of the preferred suppliers for L&T''s electrical & electronics division.

L&T is making investment to increase its presence in the fast-growing EMS market. This division contributes around Rs 2,000 crore to L&T''s top line and is engaged in the business of low-voltage switchgear products, electrical systems, energy meters, medical equipments, petroleum dispensing pumps and automation solutions. Rangsons Electronics is a part of the diversified N R Sons in Mysore. It employs around 700 people in four manufacturing units. In 2006, it increased capacity by around 50 per cent and has grown at a compounded annual rate of 65 per cent in the last five years. In addition to L&T, Rangsons is also a major supplier to GE. These two account for around 65 per cent for the company''s top line.