Ramkrishna Forgings Ltd, a supplier of rolled, forged, and machined products, on Friday announced that the resolution plan submitted by the company for the acquisition of ACIL Limited has been approved by the National Company Law Tribunal, New Delhi.
ACIL Limited is engaged in the manufacturing of high precision engineering automotive components and majorly manufactures crankshafts for tractors, HCV, LCV as well as two wheelers. Besides, the company also manufactures connecting rods, steering knuckles and hubs. lts manufacturing facility is located in Gurugram, Haryana.
Lalit Kumar Khetan, Whole Time Director & CFO, Ramkrishna Forgings Limited, said, “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.”
The acquisition is expected to usher in a new phase of growth and innovation for Ramkrishna Forgings Limited. The Company plans to fund the transaction through a mix of internal accruals and debt.
Headquartered at Kolkata, the company has state-of-the-art manufacturing facilities at Jamshedpur along with offices at Detroit in USA, Toluca and Monterrey in Mexico, !stanbul in Turkey having warehousing facilities at Hagerstown, Louisville, Detroit in USA, Toluca, Monterrey in Mexico and Westerloo in Belgium.