GREENSBORO -- Gilbarco Inc. said yesterday that it has signed a definitive purchase agreement to acquire the Petroleum Dispensing Pump division of India Larsen & Toubro Ltd.
Located in Mumbai, India, L&T is one of the leading industrial conglomerates in the country. The division manufactures, sells, integrates and services petroleum dispensers, liquefied-petroleum-gas equipment and automation-systems solutions.
"The acquisition of L&T's PDP business unit, with their strong position in the India market, significantly enhances Gilbarco Veeder-Root's position in one of the highest growth markets for our products and systems," said Martin Gafinowitz, the president of Gilbarco Veeder-Root.
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