Bharat Heavy Electricals (BHEL) is all set to start the process of due diligence for picking up a majority stake in a Hungarian engineering company, Transelektro Ganz Rock Boiler and Power Equipment Company, reports Business Line.
Transelektro makes pressure parts for power plants such as water walls, superheaters, re-heaters and headers. It is a relatively small company, with a turnover of about Rs 4 billion. It employs about 500 people.
If the deal is finalized then it will be the first overseas manufacturing facility of Bharat Heavy Electricals. The move to pick up stake in the Hungarian company gathered steam a year ago, but there have been talks of joint working for many years
| NIFTY 
