Ferranti News
PTG Heavy Industries sold
Chongqing Machinery and Electric Co (CQME), a large Chinese industrial group listed on the Hong Kong stock exchange, has acquired the subsidiary businesses of Precision Technologies Group.
The operating businesses of Holroyd Precision, Precision Components, PTG Heavy Industries (Binns & Berry and Crawford Swift brands), PTG Advanced Developments, Milnrow Investments and PTG Deutschland, are now under CQME ownership.
CQME has annual sales in excess of $1bn; it manufactures machinery and equipment for a wide range of industrial sectors, including power generation, commercial automotive, HV transformers and electricity distribution, machine tools and general machinery systems.
Read more: http://www.theengineer.co.uk/mwp/news/ptg-under-new-owners/1004350.article#ixzz1Gl6vfvu0
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