Electrotherm Acquires Kolkata-based Shree Ram Electro Cast
Written by Ravi   
Wednesday, 28 April 2010
Mumbai: Electrotherm India Ltd, a manufacturer of medium frequency induction melting furnaces, induction heating and hardening equipment for ferrous and non-ferrous foundries, has entered into a Share Purchase Agreement for acquisition of 100% shareholding of Shree Ram Electro Cast Pvt. Ltd. at a consideration of upto Rs. 85 Crores.

Shree Ram Etectro Cast Pvt. Ltd. is a kolkata based Company having manufacturing activities for Pig iron with an installed capacity of 1,20,000 MT per annum and Power Plant of 2.5 MW at Siruguppa, Bellary, Karnataka.

The transaction is expected to be completed in about 2 months.

Electrotherm has a 50 per cent market share in India for induction melting equipments, used by the engineering and automotive industry. It has its own steel plant with an installed capacity of 3.6 lakh tonne per annum. The company is also said to be setting up a structural steel mill with a capacity of 100,000 tonne per annum.

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