Ramkrishna Forgings Ltd, a supplier of rolled, forged, and machined products, has recently declared that their proposal to acquire ACIL Limited has received approval from the National Company Law Tribunal in New Delhi. The plan involves acquiring ACIL, a company dealing in rolled, forged, and machined products.
Ramkrishna Forgings Ltd, a prominent supplier of rolled, forged has successfully secured approval from the National Company Law Tribunal, New Delhi, for their acquisition of ACIL Limited. ACIL, known for its expertise in similar product lines, stands to integrate seamlessly into Ramkrishna Forgings’ portfolio. This strategic move consolidates their foothold in the industry, promising a synergistic alignment of capabilities and resources, further strengthening their position as leaders in the market.
ACIL Limited specializes in crafting high-precision automotive components, focusing on the production of crankshafts catering to a wide range, from tractors and heavy commercial vehicles to two-wheelers. Additionally, their product line extends to include connecting rods, steering knuckles, and hubs. Nestled in Gurugram, Haryana, their manufacturing facility serves as the hub for these top-notch components.
Lalit Kumar Khetan, the Whole Time Director & CFO at Ramkrishna Forgings Limited, stated, “We are pleased to announce the NCLT approval for the acquisition of ACIL Limited, a move that aligns seamlessly with our strategic growth objectives. This enhances our product offerings and strengthens our market presence, marking a significant milestone for Ramkrishna Forgings Limited. This synergy will not only strengthen our foothold in various industries but also broaden our collective capacity to cater to diverse global markets, fostering deeper and more impactful partnerships on an international scale. We look forward to integrating ACIL Limited’s expertise and capabilities into our operations, delivering enhanced value to our customers and stakeholders. We are confident that this acquisition will contribute significantly to our collective success.”
Ramkrishna Forgings Limited anticipates that the acquisition will mark the commencement of a new era focused on growth and pioneering advancements. To finance this transaction, the company intends to combine internal earnings with borrowed capital. Based in Kolkata, the company boasts cutting-edge production centers in Jamshedpur, complemented by offices in Detroit (USA), Toluca, and Monterrey (Mexico), as well as Istanbul (Turkey). Furthermore, it possesses warehouse facilities situated in Hagerstown, Louisville, Detroit (USA), Toluca, Monterrey (Mexico), and Westerloo (Belgium).
