Bangalore, India, December 23, 2010 - Universal Power Transformers Pvt. Ltd. and Shandong Power Equipment Works (SPECO), a wholly owned subsidiary of the State Grid Corporation of China, announced today that they have signed a definitive agreement under which SPECO will transfer technology to Universal for the manufacture of 220 advanced high voltage KV transformers in India. E. J. McKay acted as SPECO’s exclusive advisor in the transaction. While SPECO has already installed over 170 Chinese produced transformers in India, this partnership and associated technology transfer will mark the first of its kind for SPECO in India.
E. J. McKay CEO James Z. Li stated, “We are pleased to be able to facilitate the capital and technology flows between China and India, two of the world’s largest emerging economies.” Kamal K. Rungta, Chairman of E. J. McKay India, added: “The rapid growth of the Indian economy leads to much unmet infrastructure demand. Building upon our traditional strengths in the India – China corridor, E. J. McKay is well positioned to assist Chinese companies in their market entries and growths in India. ”
About Shandong Power Equipment Works (SPECO)
Shandong Power Equipment Company, a wholly owned subsidiary of the State Grid Corporation of China, is engaged in the design and production of various power transformers graded from 110KV, 220KV, 330KV, 400KV, 500KV to 750KV, with the annual productive capacity of over 40,000MVA. SPECO’s products are present in over 20 provinces and regions, in addition to foreign countries such as India, Nigeria, Pakistan, Mongolia, Indonesia, etc.
About Universal Power Transformers
Universal Power Transformer Pvt Ltd. was setup in Bangalore in 1978, and offers a wide range of transformers and power engineering related products and services. They are a leading power transmission and distribution equipment manufacturer in India.
About E. J. McKay
E. J. McKay is a Shanghai based investment banking group specialized in structuring complex cross-border mergers & acquisitions and merchant banking transactions. Through its offices and strategic partnerships, the firm is present in thirty major financial centers around the world. E. J. McKay has a dedicated focus on China, and advises transactions both inbound and outbound, representing clients both local and multinational.
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