Jan 3, 2017: With the aim to expand market share in lighting products, wires & cables in Middle East & African countries, Shilpi Cable Technologies’ board of directors has approved the 100% acquisition of Gulf Aglow LED Lighting FZCO, a UAE based company, incorporated within the laws of UAE.
Gulf Aglow LED Lighting (GAL) manufactures lighting products. The company sells its lighting products including CFL and LED products through retails network in Middle East and African countries.
GAL FZCO had acquired lighting business from Gulf advanced lighting, which has been in business the last two decades.
The acquisition will be completed in the next three months. The transaction is subject to applicable FEMA and RBI regulations.
Shilpi Cable Technologies specialises in cables widely used in telecom, automotive and energy segment.