TFP Bureau, New Delhi; April 16, 2024: The Competition Commission of India (CCI) has greenlighted the acquisition of additional shareholding in Thyssenkrupp Industries India Private Limited (Target) by Protos Engineering Company Private Limited (Protos) and Paharpur Cooling Towers Limited (Paharpur).
Protos is primarily involved in acting as an agent for companies manufacturing equipment, machinery, and raw materials across various sectors such as steel, cement, and sugar. Additionally, it serves as the sole selling agent of Target, facilitating transactions between Target and customers in the sugar industry and earning commissions for such arrangements. The Protos group also provides industrial inspection and certification services.
Paharpur specializes in the manufacturing and sale of industrial cooling systems, power generation through wind energy, and non-banking financial services. Furthermore, the Paharpur group is engaged in real estate development, rental, and marketing of commercial and residential projects, as well as the manufacture and sale of flexible packaging, industrial valves, and pumps in India.
Target’s portfolio includes the provision of Engineering, Procurement, and Construction (EPC) services for turnkey projects across various industries, along with after-sales services. The company also manufactures and sells various industrial products and offers operation and maintenance services for plants.
A detailed order from the CCI regarding the approval will be issued shortly.
