The state-owned construction equipment company Bharat Earth Movers (BEML) is looking for 100 per cent buyout of Companhia Comercio E Construcoes (CCC) based in Brazil for a total consideration in excess of Rs 100 crore.
The company is expecting the take-over process to be complete by next year. The Indian giant, which is the second largest mining and construction (M&C) equipment supplier in Asia, currently has a joint venture agreement with CCC for manufacture and supply of rail wagons and bogies, mining and construction equipment and spares for the Brazilian market.
Source: Business Standard
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