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Ramkrishna Forgings Ltd Secures NCLT Approval for Acquisition of ACIL Limited
Posted On : 2023-12-22 15:00:55( TIMEZONE : IST )
Ramkrishna Forgings Limited ("Company"), one of the leading suppliers of rolled, forged, and machined products has 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, It 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.
Ramkrishna Forgings' stronghold in technology, engineering and market reach combined with ACIL Limited's robust capabilities and broad product range will significantly enhance our collaboration with global enterprises.
Mr. 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 lock 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, and the company anticipates forging ahead with renewed vigor in the dynamic automotive landscape. The Company plans to fund the transaction through a mix of internal accruals and debt.
