AIA Engineering Ltd has informed BSE that the Company has acquired 7,00,000 Equity Shares of Rs. 10 each (being 70% of the Paid-up Share Capital) of DCPL Foundries Private Limited, Trichy,(DFPL) on December 13, 2010 at a price of Rs. 10/- per Share, for a total consideration of Rs. 70,00,000. The said Company DFPL is having a Foundry with an annual installed capacity of producing 9000 MT per annum of High Chrome Grinding Media Balls. AIA being a leading manufacturer of High Chrome Grinding Media, will thus benefit through this acquisition by augmenting its capacity to that extent in the strategic market of Southern India.
Further the Company has informed that, with the acquisition of said Shares, DCPL Foundries Private Limited has become the Subsidiary of the Company w.e.f. December 13, 2010.
We hope more and more listed companies invest in Trichy Industries.
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