Franklin Electric Co. announced Monday it has acquired majority stakes in two companies in India.
Terms of the deals won't be disclosed until the company's third-quarter report comes out in October.
The acquired companies are Pluga Pumps and Motors Private Limited and Wadcorpp India Private Limited. Pluga Pumps recorded $13 million in revenue in the fiscal year that ended in March, while Wadcorpp India had $1 million.
Franklin said the move will help it get a bigger footprint in a part of the world where infrastructure demand is growing.
For more on this story, see Tuesday's print edition of The Journal Gazette or visit www.journalgazette.net after 3 a.m. Tuesday.