The Competition Commission of India (CCI) has approved the acquisition of additional shareholding in Thyssenkrupp Industries India Private Limited, referred to as “Target,” by Protos Engineering Company Private Limited (Protos) and Paharpur Cooling Towers Limited (Paharpur).
Protos primarily acts as an agent for companies involved in manufacturing equipment, machinery, and raw materials across sectors like steel, cement, and sugar. It serves as the exclusive selling agent for Target, facilitating sales of sugar equipment/plants to customers in the sugar industry and earning commissions. Additionally, the Protos group offers industrial inspection and certification services.
Paharpur specializes in manufacturing and selling industrial cooling systems, power generation through wind energy, and non-banking financial services. The Paharpur group is also involved in real estate development, rental, and marketing of commercial and residential projects, as well as the production and sale of flexible packaging, pouches, retort pouches, industrial valves, and pumps in India.
Target provides Engineering, Procurement, and Construction (EPC) services for turnkey projects across various industries, along with after-sales support. It also manufactures and sells various industrial products and offers operation and maintenance services for plants.
Detailed order issuance by the CCI will follow subsequently.
