Current Affairs - Business - Discussion

Elgi Equipments Limited, an Indian manufacturer of air compressors and automotive equipment, has acquired Pulford Air and Gas, an Australian company, at a total cost of Australian $11.04 million. Sydney based Pulford is one of the largest distributors of industrial air compressors in Australia. Elgi has now acquired F.R. Pulford & Son Pty Limited and its wholly-owned subsidiary Advanced Air compressors Pty Ltd. Jairam Varadaraj, MD, Elgi Equipments, said Elgi expects Rs. 60 crore revenue in Australia this financial year because of the acquisition.