Arvea T&D board approves name change

NEW DELHI: Areva T&D on Monday said its board has approved a proposal to change the company's name to Alstom T&D India Ltd.

Areva T&D's global business was acquired by a consortium of Alstom and Schneider Electric in June 2010. Alstom Schneider Electric assumed operational control of Areva T&D India in December last year.

The name change is subject to approval of company’s shareholders and central government, Areva T&D said in a regulatory filing to BSE.

The extra-ordinary general meeting of the shareholders would be held on January 23, 2012.

The proposal was approved at the board meeting held on December 24. The board also approved re-appointment of Rathindra Nath Basu as managing director for two years from February 1, 2012. His term expires on January 31, 2012.

Alstom in India is into power generation equipment while Areva T&D India is a player in transmission and distribution sector.