AIA Engineering Ltd acquires majority stake in DCPL Foundries Pvt Ltd, Trichy
Written by Krishna Kumar   
Wednesday, 15 December 2010

Trichy: AIA Engineering Ltd 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 lakh.

DFPL has a Foundry with an annual installed capacity of producing 9000 MT per annum of High Chrome Grinding Media Balls. DCPL Foundries Private Limited has become the Subsidiary of the Company with effect from December 13, 2010.

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.

AIA manufactures grinding media, liners, and diaphragms; these components, collectively known as mill internals, are used in crushing and grinding operations. AIA is strengthening its position in the global mining sector.

For 2009-10 (refers to financial year, April 1 to March 31), AIA reported a net profit of Rs.1.7 billion on net sales of Rs.9.5 billion, against a net profit of Rs.1.7 billion on net sales of Rs.10.2 billion for 2008-09. For the half year ended September 30, 2010, the company reported a net profit of Rs.851.5 million on net sales of Rs.5084.8 billion, against a net profit of Rs.827.4 million on net sales of Rs.4573.5 billion for the corresponding period of the previous year.

Last Updated ( Wednesday, 15 December 2010 )
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