Sterlite Technologies today said its subsidiary has completed acquisition of Metallurgica Bresciana, a European specialised optical cable manufacturer, for 47 million euros in an all-cash deal.In a regulatory filing, Sterlite Technologies said its wholly owned subsidiary Sterlite Technologies S.p.A. has completed the acquisition on July 20, 2018.Incorporated in 1987, Metallurgica Bresciana designs and manufactures special precision optical fibre cables and specialised copper cables for various communication applications. It has operations in Italy and China.Metallurgica reported a revenue of 48.7 million euros and net income of 4.2 million euros at the close of 2017.Shares of Sterlite Technologies were trading 1.18 per cent up at Rs 334.15 on BSE.
from The Economic Times https://ift.tt/2LGZkfF
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