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Texmaco to buy Simplex steel foundry in Raipur-The 20th China(Guangzhou) Die-casting, Foundry & Industry Furnace Exhibition
5/5/2019 压铸展-铸造展- Die-casting expo-foundry expo |
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Texmaco Rail & Engineering Group will acquire a steel casting foundry from Simplex Castings Ltd at an estimated investment of INR 87.50 crore. It informed that board has approved acquisition of a steel casting foundry, located at Urla Industrial Estate, Raipur, Chhattisgarh, from Simplex Castings Limited, as a going concern on a slump sale basis, which shall result in a approximate capacity addition of more than 50% for the Company.
Texmaco will fund the acquisition through a mix of internal accruals and bank loans
The acquisition is expected to complement the existing product range and cater to the increased demand
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