Elgi Equipments’ wholly owned subsidiary — Elgi Compressors USA, has subscribed and invested in, an extent of $1,34,000, which is 50% of the total capital of, Evergreen Compressed Air and Vacuum LLC.
Evergreen Compressed Air and Vacuum LLC will function as an exclusive dealer / distributor for Elgi Compressors USA for the ELGi rotary screw (oil-flooded or oil-free) compressors. The object of acquiring 50% ownership stake is for creating a model distributorship in USA that can be the reference point for creating more such channel arrangements in USA.
Elgi Equipments is a holding company and an air compressor manufacturer. The company’s segments include Compressors, Automotive Equipments and Others.