Business Daily from THE HINDU group of publications
Tuesday, Jul 17, 2007
ePaper
Business Daily from THE HINDU group of publications Tuesday, Jul 17, 2007 ePaper |
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Corporate
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Mergers & Acquisitions Arch Infra acquires sick forging unit
Our Bureau Pune, July 16 Arch Infra Projects Nirman Pvt Ltd, a Pune-based infrastructure development company, has acquired Trinity Forge, an Ahmednagar-based sick forging unit, for Rs 17 crore. With trial production already under way, the resuscitated unit will go into full-fledged commercial production soon. It expects to achieve Rs 30 crore topline by March-end. The new management has bought out the brand identity and all tangible and intangible assets and liabilities of the company. It will reinstate the 130-strong workforce in a phased manner, said Mr Anil Howale, Chairman and Managing Director of Trinity Forge. He added that a second unit would be put up at another site in the area to double the existing installed capacity of 9,600 tonnes. Arch Infra is in talks with some private equity funds and venture capitalists to finance the expansion plans. Mr C. Murali, Executive Director of Trinity Forge, said that the company already has orders for 25 per cent of the installed capacity. “To derisk, we will also look at non-auto domains like earth moving and mining and construction.” He added that the target was to get 40 per cent of total revenue from this segment. Among the other initiatives chalked out are carbon credit as a focus and use of LPG instead of oil for furnaces. The company has targeted a topline of Rs 80 crore for the next fiscal and has a plan to begin product design and supply of sub-assemblies for the aerospace industry in the third phase of expansion.
More Stories on : Mergers & Acquisitions | Bearings | tings & Forgings
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