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- Hindustan Dorr-Oliver acquires UK-based DavyMarkham
Hindustan Dorr-Oliver acquires UK-based DavyMarkham
Engineering solutions provider Hindustan Dorr-Oliver has acquired the UK-based DavyMarkham for about Rs 65 crore. DavyMarkham, is involved in designing, manufacturing and assembling large equipment used in mining, quarrying, power generation, oil, gas and nuclear sectors. The company's order book position is worth £13 mn, including orders from the mining and power sectors from North America and the European customers.
After this development, Hindustan Dorr-Oliver Ltd (HDO), a part of Hyderabad-based IVRCL Infrastructure and Projects, will enter the heavy engineering space. The company paid £9.5 mn towards 100 per cent stake; this amount includes £8.5 mn towards equity value and £1 mn towards the shareholder loan.
Engineering solutions provider Hindustan Dorr-Oliver has acquired the UK-based DavyMarkham for about Rs 65 crore. DavyMarkham, is involved in designing, manufacturing and assembling large equipment used in mining, quarrying, power generation, oil, gas and nuclear sectors. The company's order book position is worth £13 mn, including orders from the mining and power sectors from North America and the European customers. After this development, Hindustan Dorr-Oliver Ltd (HDO), a part of Hyderabad-based IVRCL Infrastructure and Projects, will enter the heavy engineering space. The company paid £9.5 mn towards 100 per cent stake; this amount includes £8.5 mn towards equity value and £1 mn towards the shareholder loan.