Gilbarco Inc. Acquires Larsen & Toubro's Petro Dispensing Pump Division
GREENSBORO, N.C. -- Gilbarco Inc. signed a definitive purchase agreement to acquire the Petroleum Dispensing Pump (PDP) division of India Larsen & Toubro Limited (L&T), pending final closing conditions.
Located in Mumbai, L&T is one of the leading industrial conglomerates in India. The PDP division manufactures, sells, integrates and services petroleum dispensers, LPG equipment, and automation systems solutions, the company reported.
"The acquisition of L&T's PDP business unit, with their strong position in the India market, significantly enhances Gilbarco Veeder-Root's position in one of the highest growth markets for our products and systems," said Martin Gafinowitz, President, Gilbarco Veeder-Root. "The acquisition is a continuation of our successful strategy of building a thorough local presence in key markets; our customers benefit from the best technology, combined with an ability to meet local market requirements and provide excellent service and support. L&T's talented team will contribute significantly in all of these areas."
PDP will become part of Gilbarco Veeder-Root's organization, in a new division called Gilbarco Veeder-Root India Private Ltd. All business will be conducted under the Gilbarco name.
Sudhanshu Chhabra will become managing director for all of Gilbarco's India business, and the division will continue to operate from their existing facilities in Mumbai and Coimbatore, India.
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Located in Mumbai, L&T is one of the leading industrial conglomerates in India. The PDP division manufactures, sells, integrates and services petroleum dispensers, LPG equipment, and automation systems solutions, the company reported.
"The acquisition of L&T's PDP business unit, with their strong position in the India market, significantly enhances Gilbarco Veeder-Root's position in one of the highest growth markets for our products and systems," said Martin Gafinowitz, President, Gilbarco Veeder-Root. "The acquisition is a continuation of our successful strategy of building a thorough local presence in key markets; our customers benefit from the best technology, combined with an ability to meet local market requirements and provide excellent service and support. L&T's talented team will contribute significantly in all of these areas."
PDP will become part of Gilbarco Veeder-Root's organization, in a new division called Gilbarco Veeder-Root India Private Ltd. All business will be conducted under the Gilbarco name.
Sudhanshu Chhabra will become managing director for all of Gilbarco's India business, and the division will continue to operate from their existing facilities in Mumbai and Coimbatore, India.
Related News:
Sheetz Selects Gilbarco Wisdom Intelligent Device Management System