KRN Heat Exchanger and Refrigeration Limited has taken a significant step to strengthen its position in the HVAC sector through its wholly owned subsidiary, KRN HVAC Products Private Limited. The Board of Directors of KRN HVAC approved the signing of a Business Transfer Agreement with Sphere Refrigeration Systems Private Limited (SRSPL), under which the Bus Air-Conditioning division previously managed by SRSPL will be transferred to KRN HVAC.
With this strategic acquisition, all operations, employees, and management of the Bus Air-Conditioning division will integrate into KRN HVAC. The move is expected to enhance revenues, improve profitability, and reinforce KRN Heat Exchanger’s presence in the competitive HVAC and refrigeration industry. Employees and promoters of the division at SRSPL will continue in their roles under KRN HVAC, ensuring a smooth transition and continuity of operations.
This transaction does not involve any issuance of shares, nor does it impact the management or control of KRN Heat Exchanger. It is not a related-party transaction, and no additional restrictions or liabilities are imposed on the company. The acquisition reflects KRN Heat Exchanger’s commitment to expanding its product portfolio and delivering innovative solutions for bus air-conditioning and related services.
By leveraging the expertise and established operations of SRSPL, KRN HVAC is well-positioned to strengthen its market capabilities and drive sustainable growth.
