NEW DELHI, July 24 (PTI): Ramkrishna Forgings Ltd on Monday said it has acquired Multitech Auto Private Ltd and its wholly-owned subsidiary Mal Metalliks Private Limited for Rs 205 crore.
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Multitech Auto and Mal Metalliks manufacture various parts for automobiles like assembly top cover, shift cylinder, assembly gear, differential case, differential cover, various types of hubs among others.
Ramkrishna Forgings in a statement said that it has acquired Multitech Auto Private Ltd and its wholly-owned subsidiary Mal Metalliks for Rs 205 crore.
“This acquisition marks a significant step forward in the company’s growth strategy, aimed at expanding its product line and fortifying its presence in the passenger vehicles, light commercial vehicles, and heavy commercial vehicles segments,” it said.
The company further said that it has also acquired Mal Auto Products Private Limited for Rs 7 crore.
By venturing into the production and supply of the entire differential assembly and trailer axle assembly consisting of Casting and Forgings, the company is well-positioned to become a major player in the market, the statement said.
The addition of these new product lines is expected to contribute significantly to the company’s financial growth, with an estimated turnover of Rs 500-600 crore within the next two years.
“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 opportunities for our future growth and success,” Lalit Khetan, Whole Time Director & CFO, Ramkrishna Forgings said.
