E. J. McKay Advises Triveni in Establishing Strategic partnership with Beijing Steam Turbine Co., Ltd.
New Delhi, India, August 16, 2007 – Triveni Engineering & Industries Limited today announced the signing of a collaboration agreement with Beijing Beizhong Steam Turbine Generator Co., Ltd. (BZD) to distribute and market BZD’s products by offering power solutions up to 330MW which will consist of steam turbines, alternators, condensing and cooling systems along with electrical and power evacuation systems; Triveni will also sell the balance of plant and provide after sales support. The agreement also facilitates Triveni to enter into technology transfers and other close forms of collaborations and the companies will work towards these in the future.
The transaction supplements Triveni’s product range to encompass the entire industrial turbine market up to 60MW and enables Triveni to enter into the medium sized utility power generating equipment market up to 330MW. “This is representative of the work that E. J. McKay is engaged in – that of advising a highly selective group of key clients in their significant cross-border transactions that create measurable synergy and transform the economics of the impacted industry,” commented James Z. Li, CEO of E. J. McKay.
ABOUT TRIVENI
New Delhi, India based Triveni Engineering & Industries Limited is a leader in sugar and engineering. The Company is among the three largest sugar manufacturers in India, and the market leader in its engineering businesses comprising of steam turbines, high speed gears, gearboxes, and water treatment solutions. Triveni currently has seven sugar mills in operation at Khatauli, Deoband, Sabitgarh, Chandanpur, Raninagal, Milak Narainpur and Ramkola. The Company’s turbine manufacturing and gear manufacturing facilities are located at Bangalore and Mysore respectively while the Water & Waste water treatment business is located at Noida.
ABOUT BEIJING BZD GROUP
Beijing-based BZD, a subsidiary of the state owned Beijing Jingcheng Mechanical & Electrical Holding Co., Ltd., is a technology leader and fourth largest steam turbine manufacturer in China with products offering power solutions up to 660MW. The company sold more than 4,000MW of power generating equipment last year and has already made inroads into Indian market with orders exceeding 1,300MW.
About E.J.McKay
E.J.McKay is a Shanghai-headquartered investment bank with a special focus on mergers & acquisitions. We are one of the most long standing independent investment banks in China, with core business of mergers & acquisitions and financing advisory.