Firepro Systems (India) Explained

Firepro Systems, incorporated in 1992 by N S Narendra as a proprietorship, is a company that provides integrated solutions for fire protection, security, and building management systems. The company went global early and used to get 25% of its revenues from overseas.[1] In 2008 when the real estate market suffered a setback, FirePro was affected. In 2011 the company ran into a financial crisis and was unable to pay some of its employees.[2] On 11 May 2012, Panasonic announced plans to acquire a 76.2% stake in the Rs. 700 crore Firepro Systems.[3] [4]

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Notes and References

  1. Web site: India's Hidden Gems. Forbes. 11 April 2014.
  2. News: FirePro Systems facing financial crisis. 28 December 2011 . Mini Joseph . Tejaswi . Pranav . Nambiar . Times Of India. Gadgets Now . 25 November 2018.
  3. News: Panasonic acquires 76% stake in Firepro-Systems. Economoctimes.indiatimes.com. 11 May 2012. 26 May 2012.
  4. http://news.panasonic.com/global/press/data/en120511-9/en120511-9.pdf Panasonic announces that it makes Firepro Systems Private Limited (India) its sub-subsidiary through Share Acquisition

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