# EIC acquires production assets of CG Power Systems Belgium

Electrical Industries Company (EIC) acquired the production activities from the assets of the bankrupt estate of CG Power Systems Belgium.

- Type: Acquisition
- Announced: 2021-04-01
- Where: Belgium, Belgium
- Value: $5.95M (5.00M EUR)
- Status: completed
- Products: power systems
- Sectors: [Electrical Equipment](https://endata.com/sectors/electrical-equipment.md)

## Companies

- [Electrical Industries](https://endata.com/companies/12225.md)
- [Electrical Industries](https://endata.com/companies/12225.md) (acquirer)
- [CG Power Systems Belgium](https://endata.com/companies/21733.md) (target)
- [CG Power Belgium](https://endata.com/companies/49417.md) (target)

## Sources

- [jonesday.com](https://www.jonesday.com/en/practices/experience/2021/04/eic-acquires-assets-of-cg-power-systems-belgium), 2021-04-01: "Jones Day advised Electrical Industries Company (EIC) in the acquisition of the production activities from the assets of the bankrupt estate of CG Power Systems Belgium."
- [marketscreener.com](https://www.marketscreener.com/quote/stock/ELECTRICAL-INDUSTRIES-COM-20708288/news/Electrical-Industries-Company-signed-an-agreement-to-acquire-Assets-of-CG-Power-Systems-Belgium-N-V-33436760/), 2021-04-17: "Post completion, Electrical Industries Company will establish PAUWELS Transformers Co. in Belgium and the assets purchased will be transferred to the new firm to start operating the transformers factory in Belgium."
- [zawya.com](https://www.zawya.com/en/business/saudis-eic-in-final-stages-of-setting-up-belgian-company-448159), 2021-04-18: "Saudi Arabia’s Electrical Industries Co (EIC) is in the final stages of establishing a new company in Belgium, following the acquisition of the assets of a liquidated Belgian transformer company."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.