Product category:
Manufacturing dealerships, agencies and acquisitions
News Release from: Craig and Derricott
Edited by the Manufacturingtalk Editorial
Team on 05 March 2008
Indian firm buys UK switchgear
manufacturer
The Victory Group, India, has acquired a UK electrical switchgear manufacturer, Craig and Derricott - the company said it will ensure manufacture continues in the UK.
The Indian company, The Victory Group, has acquired UK switchgear manufacturer, Craig and Derricott, which is located in the Midlands Craig and Derricott said it is a leading manufacturer of high-quality switchgear products for low voltage control and safety applications
This article was originally published on Manufacturingtalk on 6 Jan 2004 at 8.00am (UK)
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The Victory Group is partially owned by Reliance Capital, a company belonging to the Reliance ADA group.
Craig and Derricott exports around the world and manufacturers switchgear for a wide range of companies including Tubelines, Alstom, BAE Systems, Metronet, Bombardier, Siemens and Rolls Royce.
The acquisition of the company, for an undisclosed sum, will see production continue to be based in the Midlands, securing more than 70 jobs.
Mahindra Vaddineni, managing director of The Victory Group said: "We could not be more delighted to welcome Craig and Derricott into The Victory Group".
Vaddineni said that Craig and Derricott's specialist switchgear has an unrivalled reputation in key markets around the world and will support Victory's ambitious plans for expansion in countries such as India, Africa, China, the Middle East and America.
Vaddineni commented: "Our expertise in manufacturing medium voltage switchgear will synergise with the products being manufactured by Craig and Derricott.
We will support aggressive new product development pipelines for future growth, which will synergise with existing products, and cater to wider clientele.
* About the Victory Group - Hyderabad-based Victory Group is a well-established Indian engineering company, which manufactures a range of products for the power industry.
Its expertise includes the manufacture of power, distribution and instrument transformers, vacuum circuit breakers, surge arresters and electro-porcelain products.
Managing director at Craig and Derricott, Gordon Barraclough, said: "Since The Derricott family first started the business 64 years ago we have built a reputation for high quality specialist switchgear securing a market leading position across the globe.
The success of the company has been thanks to the hard work, dedication and engineering excellence of our dedicated and loyal employees." He said he was confident that its new owners are committed to continuing the traditions of quality and engineering excellence.
Andrew Dolman, engineering director will become the new managing director of Craig and Derricott.
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