In order to strengthen global trade, the Benzlers-Radicon Group of UK origin was acquired.

Vallabh Vidyangar, October 28, 2010: Elecon Engineering Company Ltd. announces the acquisition of India's largest manufacturer of material handling equipment, heavy duty industrial gearboxes and drive transmission products, Benzlers-Radicon Group (BR Group) for £ 21.41 million. This acquisition will strengthen Elecon's product development, engineering capacity and expand its customers in Europe, North America & Scandinavian countries. Elecon's two group companies have jointly acquired the acquisition.

 Elecon Engineering Co. Ltd. and Power Build Limited (PBL) will perform the division of duties in this joint purchase as follows.

Elecon Engineering covers the European, American and Swedish regions; PBL has assumed responsibility for the Asian region.  

The BR Group is headquartered in the United Kingdom and is also widespread in the main regions of England, Sweden and Thailand, making it an important opportunity for the Elecon group to enter the European and Asian market.

In addition, the BR Group has a large workforce in the United States, thanks to Cone Drive, a David Brown Group subsidiary. This acquisition will further increase Elecon's international exports. 'Benzlers' and 'Radicon'

 are globally known brands in the drive transfer industry. The Radicon brand is a general name for worm gear reducers in many markets. The incorporation of these brands into Elecon will provide competitive advantage and enable Elecon to offer special prices. 

Ay This is our first international acquisition and is a turning point for the company's long-term growth strategy , Ele said Prayasvin Patel, Managing Director and Chairman of Elecon Engineering Group . The combination of strong brands and new growth plans and the combination of a world-class supply chain will enhance Elecon's growth potential. The work of the BR group complements our product portfolio and will further strengthen our presence in the global market.

Elecon Group, Group Manager, Prashant Amin; “This strategic acquisition of BR gives us a great platform for Elecon to announce its presence worldwide. As the largest industrial reducer manufacturer in Asia, this acquisition gives us the benefits of our worldwide presence and stamping. At the same time, a pioneering brand awareness, worldwide enterprise in new business sectors, development of engineering through information sharing, and other commercial advantages will come with it.

Yorumu Comment by DM Patel, Manager of Power Build Ltd;“We have been merging with David Brown Gearboxes since 2003 and the acquisition of David Brown Systems (Thailand) Ltd gives us a great platform for development. We are constantly looking for long-term development in terms of engineering solutions and process engineering through information sharing. As a pioneer in the manufacturing of gearmotors in India; this acquisition will enable us to progress rapidly to the growth path for the company and provide our products with advanced channels in major markets. 

Neville Vickery, Managing Director of David Brown Benzlers-Radicon business, commented on the sale of Elecon Engineering Company Ltd (Elecon);Con Elecon is a well-known reputable global company and we are very happy to be a part of this group. The Benzlers-Radicon group has seen tremendous growth in recent years and will continue on this path as part of Elecon. This is a major strategic fit for our business - Benzlers and Radicon are internationally known brands and are recognized in the Western hemisphere; and Elecon has a well-known reputation for gear design and manufacturing, as well as excellent supply chain resources. 

“There is also an equal cohesion among companies and a shared focus on excellent customer service and global growth. I'm sure and excited because with the development of our complementary powers, the Benzlers-Radicon Group will develop its expertise in drive transmission systems both in the standard product market and in expanding and enhancing the quality of new products and services, ek he added. 

By combining our BR expertise with our engineering expertise, Elecon can now take advantage of the economic scale of manufacturing processes and reduce the overall cost of the supply chain. Elecon will continue to satisfy its customers by offering applied engineering products and improving efficiency.

Elecon Engineering Company Ltd. and Power Build Ltd. (PBL), the purchasing rationale is as follows:

·Achieve a higher volume with the Radicon product portfolio

· Elecon products reach a larger market thanks to Benzlers-Radicon gearboxes.

· To pursue new markets by benefiting from Benslers-Radicon 'brand name and to reach new markets such as South America, Russia, South Africa and Australia in the future.

Full control of the BR Group will be taken over by Elecon Engineering at the end of November 2010.

Elecon Engineering Company Ltd. About:

Elecon Engineering Company Ltd. was founded in 1951 in Vallabh Vidyanagar, Gujarat, India and has been a pioneer in manufacturing material handling equipment http://www.elecon.comDuring this 50-year period, Elecon designed and implemented many milestones in India and abroad. At first, Elecon acquired its company identity by designing and manufacturing elevators and conveyors, and the company name con Elecon uştur was formed in this way. The company has grown as a pioneer in India in the material handling equipment concept. Over the course of 50 years, Elecon has encompassed its own brand with its unrivaled technology and the versatile equipment it offers to all major sectors. Elecon has established its presence in the main sectors of its equipment such as fertilizer, cement, coal / power plant, chemical, steel mill and port mechanization with its consistent and successful performance in customer satisfaction.

Power Build Ltd. About (PBL):

Power Build Ltd (PBL) is a group company of Elecon Engineering Company Ltd., founded in 1972. PBL started its activity in the technical cooperation with Roudolf Muncha KG from West Germany with the production of gearmotors and reducers. In the last 30 years, it is one of the largest manufacturers of gearmotors and reducers in India and has a market share of 23% in 2009. PBL has made many orders for major industries such as Fertilizer, Cement, Coal / Power plant, Chemical and Iron and Steel plants.

About Benzlers-Radicon Group:

Benzlers-Radicon Group has nearly 60 years of experience in high-quality industrial drive transmission engineering. David Brown and his sister companies are part of the DB Gear Systems group of companies. They have a reputation as market leaders in the design and manufacture of screw lifting units, shaft mounted gear units and industrial gear units. The company has three business units: Radicon in the UK, Benzlers in Sweden and David Brown in Thailand.

The Group sells standardized and applied drive transmission products under the well-known, reliable and reputable brands such as Radicon and Benzlers. The Group sells its products worldwide through a variety of market channels and is committed to providing multifaceted engineering solutions to customer service. The Group's global brand reputation represents a real growth opportunity. Many strong brands, strong engineering reputation, global placement and a comprehensive product portfolio provide a good platform for sustainable growth in the future.