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| KEC Intl bids for US-based SAE Towers |
| BS Reporter / Mumbai Jul 30, 2010, 01:31 IST |
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KEC International, a part of RPG Group, is bidding for US-based SAE Towers, according to a news portal vccircle.com.
The website claims that KEC may put in a bid in the range of $125-175 million (Rs 583 crore to Rs 817 crore). The bids are expected at a minimum price of $125 million.
Houston-based SAE Towers — one of the world’s largest producers of steel lattice towers for high-voltage power transmission — is present in Brazil and Mexico. The company is owned by US-based private equity company ACON Investments. SAE was acquired by the PE company in a spin-out of the electricity tower manufacturing division of Switzerland-based ABB. A spokesperson at RPG refused to comment.
SAE, which has supplied 1.6 million tonnes of tower structures to utility companies throughout the America, has manufacturing plants in Monterrey, Mexico and Belo Horizonte, Brazil. These facilities span over approximately 475,000 square feet and are capable of producing in excess of 100,000 tonnes annually. The company performs engineering, design and detailing of lattice towers, steel poles and foundations.
KEC International, which executes engineering, procurement and construction contracts in the transmission sector, had an order book of around Rs 5,500 crore by the end of March 31. It has a strong international presence and has projects in over 25 countries. Its projects span South Asia, West Asia, Africa, Central Asia, Australia and South America. The company’s shares today closed 1.1 per cent up at Rs 515 on the Bombay Stock Exchange.
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