C. E. Fernandes, Managing Director, GEI Industrial Systems Ltd., has acquired 25,00,000 Equity Shares (17.51%) from Compagnie Financiere Hamon (Hamon); Foreign Collaborator-Shareholder in the form of inter-se-transfer of equity shares between the Indian Promoters and Foreign Collaborator- Shareholder.

Mr. C. E. Fernandes, along with Persons Acting in Concert, who were earlier holding 24.41% of the shares or voting rights in GEI Industrial Systems Limited, have increased their holding to 41.92% (amounting to 59,84,525 shares) through this inter-se-transfer.

“Our order book position is strong, and we have also made significant inroads in the Oil & Gas and Power Sectors. Having a greater say through increase in voting rights is sure to translate into future growth.” said Mr. C.E. Fernandes, Managing Director, GEI Industrial Systems Ltd.

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About GEI Industrial Systems Limited

GEI Industrial Systems Limited, an ISO 9001-2000 Company with ASME “U” & “R” Stamp provides Air Cooled Heat Exchangers for Crude Oil Refineries, Petrochemical Plants and LNG and CNG processing stations and Air-Cooled Vacuum steam condensing packages for thermal power stations. GEI was the first Indian company to supply air-fin heaters for LNG re-gasification terminal and processed gas coolers for offshore platforms.

The vast potential present in the power transmission sector has led GEI to create a niche business segment, viz. the GEI Industrial Power Transmission Business Group. With most State governments issuing notification for the use of steam condensers in all power projects, GEI has tremendous scope to penetrate the power sector.