Ramkrishna Forgings announces acquisition of Multitech Auto Private Limited and its subsidiaries
The acquisition includes wholly owned subsidiary Mal Metalliks Private Limited along with Mal Auto Products Private Limited
Kolkata- Ramkrishna Forgings Limited., a supplier of rolled, forged, and machined products plans to acquire Multitech Auto Private Limited. The Board of Directors has approved an investment to acquire Multitech Auto Private Limited and its wholly owned subsidiary Mal Metalliks Private Limited with a capacity to manufacture 21,600 MT p.a of Machined SG & CI Castings. Multitech Auto also has the capacity for Bar Draw Facility of 6000 MT p.a. The company has also acquired Mal Auto Products Private Limited.
The acquisition is seen as the company’s plan to venture its portfolios in the Passenger Vehicles, Light Commercial Vehicles, and Heavy Commercial Vehicles segments.
Multitech Auto and Mal Metalliks presently manufacture Assembly Top Cover, Shift Cylinder, Assembly Gear, Differential Case, Differential Cover, Various types of Hubs, Crank Case, King Pin, Cotter Pin, Spring Pins, Shifter Shafts, Steering Spindles, Falcrum Pins & Rollers for HCV Brakes.
The company is set to the production and supply of the entire differential assembly and trailer axle assembly consisting of Casting and Forgings, expected to contribute significantly to the company's financial growth, with an estimated turnover of Rs 500-600 Crores within the next two years.
Commenting on the acquisition Mr. Lalit Khetan, Whole Time Director & CFO, Ramkrishna Forgings Limited said, "The strategic acquisition of Multitech Auto Private Limited and Mal Metalliks Private Limited marks a significant milestone in our efforts to fortify our market position and diversify our product offerings. With the integration of these companies, we are poised to strengthen our presence and deliver an enriched value proposition to our esteemed customers. This expansion opens a world of exciting opportunities for our future growth and success.”
Furthermore, the Company also plans to acquire Mal Auto Products Private Limited, which includes a strategic land parcel of 10 acres (approximately 4,30,000 sq. ft) at a value of Rs 15 Crores.
