JSA advises Hindustan Platinum on Peurto Rico plant acquisitionPTI | New Delhi | Updated: 18-06-2019 19:14 IST | Created: 18-06-2019 19:12 IST
Law firm J Sagar Associates has advised Hindustan Platinum, refiner and manufacturer of precious metal products, on its acquisition of ABB's electrical contacts manufacturing plant in Humacao, Puerto Rico. "J Sagar Associates has advised Hindustan Platinum Pvt Ltd (HPPL) in relation to its acquisition of electrical contacts manufacturing plant in Puerto Rico from Industrial C&S of P R LLC, an affiliate of ABB Asea Brown Boveri Ltd (ABB)," the law firm said in a statement.
Hindustan Platinum has not disclosed the details of the deal but has said it is expected to close in August. Hindustan Platinum Executive Vice-President Ashish Choksi said Monday the addition of the Humacao plant is of critical strategic interest to the company's electrical contacts division. He added that 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.