Sinoma International enters Indian cement equipment market

Sinoma International Engineering (Hong Kong) Co Ltd has entered the Indian cement equipment production industry with the acquisition of a major stake in Chennai-based LNV Technology Pvt Ltd for $ 23.9m.
 
The deal has been signed with a mutual agreement between two players where Sinoma holds 68 per cent equity of LNV Technologies after completion, while V.C. Rao and LVT each holds 16 per cent equity of LNV Technology. Total transaction price of this deal is approximately Rs. 130 crore. This acquisition would help Sinoma enter in the Indian Market. Meanwhile, addition of Sinoma will enable LNV Technology to strengthen business further in the cement industry, the company said.