*Electrotherm India Ltd *plans to acquire *Hans Ispat Pvt Ltd *and its subsidiary *Shree Hans Paper Ltd *for Rs 60 crore ($13.3mn).
Hans Ispat is also a Gujarat-based company and is engaged in manufacturing steel products. The transaction is expected to be completed in about four months. Hans Ispat has a manufacturing facility of 84,000 tonne per annum (TPA) of billet, around 1.2 lakh TPA of TMT rotting mitt, and another 72,000 TPA of SS rolling mill at Kutch. Transaction Note This is the second acquisition by Electrotherm this year. It earlier acquired *Shree Ram Electrocast Pvt Ltd*, a pig iron manufacturing company based in Kolkatta for $19.11 million (around Rs 85 crore) in April. Hans Ispat was also in the process of setting up a stainless steel facility in Bangalore. The Kutch plant also has a captive power unit of 27.5MW. -- 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.
