*Electrotherm (India) Limted* has signed the share purchase agreement to acquire 100% stake in *Shree Ram ElectroCast Private Limited* for Rs 85cr.
The transaction is likely to be completed in 2 months. Transaction Note Shree Ram ElectroCast is a Kolkata based company having manufacturing activities for Pig iron capacity of 1, 20,000 MT per annum and power plant of 2.5 MW at Siruguppa, Bellary, Karnataka. Electrotherm India Ltd, a Gujarat-based engineering and metal melting firm. The company manufactures medium frequency induction melting furnaces, induction heating and hardening equipment, Dc arc furnaces etc. The company is also in power generation and electric vehicles. The net profit of the company, during the quarter ended on 31st December, 2009, stood at Rs 7.84cr. During the period both interest and depreciation cost were high to tune of 10.48% and 114.5% as the company raises debt to fund its expansion plans. Electrotherm is now working on what could be the first electric motorcycle in India. The company already has the technology in-house. -- Regards Hardik Shah -- You received this message because you are subscribed to the Google Groups ""GLOBAL SPECULATORS"" group. To post to this group, send email to [email protected]. To unsubscribe from this group, send email to [email protected]. For more options, visit this group at http://groups.google.com/group/globalspeculators?hl=en.
