German firm buys 51% stake in WMI

MUMBAI, June 12: Man B&W Diesel AG of Germany has acquired a 51 per cent equity stake in WMI Power Plant, an Indian company engaged in marketing and servicing of power plants. Following the acquisition, the company would be renamed as MAN B&W Diesel Power Plant (India) ltd.

WMI Power, a subsidiary of WMI group, has been associated with the German company for many years. “The joint venture will be able to strengthen their operations in offering complete power generating solutions for the captive and independent power plants by supplying four-stroke diesel generating sets and complete turnkey solution,” said HJ Schulte, chairman of MAN B&W.

The WMI group is also engaged in providing solutions in power and material handling. It is engaged in the business of designing and manufacturing of cranes for industries such as steel, cement, fertilizers, heavy machine building and ports. The joint venture will result in an easy flow of technology.