Salzer Electronics Limited, among leading players offering total and customised electrical solutions has withdrawn their acquisition proposals regarding Overseas Companies - Advanced ID Asia Engineering Co. Ltd, Thailand and United Marketing and Trading Limited, Hong Kong. This is post detailed due diligence conducted, which has been mutually agreed by the Board of Director and Management in line with the plan for long-term value creation of the Salzer Group.

Commenting on this, Mr. D Rajesh Kumar, Joint Managing Director and Chief Financial Officer of the Company said “Our plans to acquire controlling stake in overseas Companies, has been dropped, post detailed due diligence conducted, which has been mutually agreed by the Board of Director and Management in line with the plan for long-term value creation of the Salzer Group. However, strategic alliance/joint venture and technological collaboration into newer geographies will continue to be in our long-term plan.”