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CGPISL enters into a Strategic Alliance Agreement with TENAGA SWITCHGEAR

Posted On: 2018-08-17 21:53:32

Avantha Group Company, CG Power and Industrial Solutions Limited (CGPISL), entered into a strategic alliance agreement with TENAGA Switchgear Sdn. Bhd., Malaysia (TSG) to leverage each company's unique strengths and assets to expand market reach and enhance customer base in Southeast Asia-Pacific (SEAP), particularly Malaysia. The strategic alliance was announced by CG's CEO and Managing Director, Mr. K. N. Neelkant and Datuk Mohd Hisham bin Ab. Halim - Managing Director for TENAGA Switchgear Sdn. Bhd. The alliance further cements the existing strong bond between CG and TSG where CG is already a key partner to Tenaga Switchgear on Power Transformers and Circuit Breakers.

The agreement between the companies includes product development and promotion of 11 kV Gas Insulated Switchgear (GIS) in Malaysia to address the rapidly growing demand in this region. As per the agreement, both the companies will collaborate in the Malaysian market.

Commenting on this prestigious alliance, Avantha Group Company, CG's CEO and Managing Director, Mr. K. N. Neelkant said, "We are excited to partner with Tenaga Switchgear. This alliance enables both manufacturers to guarantee a complete and highquality offering, focused on market needs and to provide its customers with a comprehensive suite of products and services that delivers customer satisfaction."

Shares of CG Power and Industrial Solutions Ltd was last trading in BSE at Rs.59.45 as compared to the previous close of Rs. 59.2. The total number of shares traded during the day was 313755 in over 767 trades.

The stock hit an intraday high of Rs. 59.85 and intraday low of 58.7. The net turnover during the day was Rs. 18561485.


Source: Equity Bulls

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