# IMS Engineering acquires Heavy Electrical Complex from Pakistan government

IMS Engineering Pvt. Ltd. acquired Heavy Electrical Complex (HEC) from the State Engineering Corporation at Rs. 99.999 per share, resulting in Rs. 1.4 billion in proceeds for the government. IMS plans to expand HEC's product line from power transformers to grid stations and export to regional markets.

- Type: Acquisition
- Announced: 2022-03-31
- Where: Pakistan
- Value: $7.80M (1.40B PKR)
- Status: announced
- Products: power transformers, grid stations
- Sectors: [Electrical Equipment](https://endata.com/sectors/electrical-equipment.md)

## Companies

- [Heavy Electrical Complex (Private) Limited](https://endata.com/companies/52979.md) (target)
- [IMS Engineering](https://endata.com/companies/62001.md) (acquirer)
- [State Engineering Corporation](https://endata.com/companies/62002.md) (partner)

## Sources

- [javidlawassociates.com](https://javidlawassociates.com/news/ims-engineering-acquires-heavy-electrical-complex-with-pledge-to-expand-product-line), 2022-03-31: "Combined with IMS Engineering and IMS Electric, we will be the only vertically-integrated end-to-end electrical contracting and supply company in Pakistan."
- [propakistani.pk](https://propakistani.pk/2022/04/01/ims-engineering-acquires-heavy-electrical-complex-with-pledge-to-expand-product-line/), 2022-04-01: "We will not only serve the power transformer needs in Pakistan but also export to regional markets."

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