Thursday, September 11, 2008

Gammon Acquires 50pc Stake In Italian Co Sofinter - Sep 11, 2008

Gammon India will now look to build power plants following its purchase of a 50 per cent stake in an Italian company that is the holding company of leading boiler manufacturer Ansaldo Caldaie. Gammon on Sept 10 declared the buy out of a 50 per cent stake in Sofinter S.p.a. of Italy, which is Ansaldo''s holding company. Gammon made this acquisition via its offshore step-down subsidiary. This is the company''s third overseas acquisition in the Italian market this year, which will enable it to take up power plant construction

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