Sakthi Sugars subsidiary acquires INTERMET Europe

Sakthi Sugars Ltd has announced that the Company's wholly owned subsidiary, Sakthi Auto Component Ltd (SACL), has acquired a group of Companies called "INTERMET Europe" from INTERMET International Inc, Fort Worth, Texas, USA as step down subsidiaries through SACL's wholly owned subsidiary, Orlandofin B.V., Netherlands. INTERMET Europe, which owns and operates two plants in Germany and one plant in Portugal, is engaged in the business of manufacture of precision castings in ductile iron for automotive industry, with a total production capacity of 1,65,000 MT per annum.

The stock was trading at Rs.92.60, up by Rs.3 or 3.35%. The stock hit an intraday high of Rs.95 and low of Rs.91. The total traded quantity was 58284 compared to 2 week average of 260393.

Source : Equity Bulls

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