Hindustan Platinum buys ABB's Puerto Rican unit

Hindustan Platinum, a leading refiner and manufacturer of precious metal products, has bought ABB's Humacao electrical contacts manufacturing plant in Puerto Rico, thus strengthening its global footprint. The company did not disclose the details of the deal, but said it is expected to close in August this year.

Hindustan Platinum's Ashish Choksi said the addition of the Humacao plant is of critical strategic interest to their electrical contacts division as it is going to be the second electrical contacts manufacturing facility, besides the one in Navi Mumbai, that will cater to the growing demand of the North American and Latin American markets.

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