Larsen and Toubro (L&T) on Thursday announced it has bought Malaysia-based Tamco Switchgear Malaysia Sdn Bhd, the demerged switchgear buisness of the Tamco Corporate Holdings Bhd, for $108 million (Rs 425 crore).  

“This is a significant move forward in L&T’s plans of reinforcing its position as a major player in switchgear business. Tamco has a strong presence in the medium voltage (MV) category,” said R N Mukhija, President, Operations, L&T. L&T will be able to offer a comprehensive range of MV switchgear in India and global market, said Mr Mukhija.

He added that the deal will help L&T in technology acquisition and market access.
Post-Tamco acquisition, Larsen and Toubro will have access to the fast growing MV Switchgear markets like the Middle East and the EPC contractors that have approved use of Tamco’s products, he pointed out.