The Hindu Business Line : IFGL Refractories begins commercial production

Kolkata May 26 IFGL Refractories, which set up a subsidiary in China in March this year, has commenced commercial production, a company release has said.

The Rs 151-crore company formed this step-down Chinese subsidiary Tianjin Monocon Aluminous Refractories Ltd, for the manufacture of slag control darts and other pre-cast shapes used in the production of iron and steel. Cost of production in the Chinese unit is expected to be lower than the company's plant in Taiwan.

IFGL has sold the Taiwanese company and all its business has recently been shifted to the export-oriented Chinese unit.

Trent buy

Earlier this month, the company's subsidiary Monocon International Refractories Ltd entered into a non-binding agreement for the acquisition of Trent Refractories Ltd of the UK. Trent is engaged in the manufacture of castables, monolithics, pre-cast shapes etc. used mainly by producers of iron and steel.

In December 2006, IFGL had acquired an UK-based company — Goricon Group, which owned two outfits - Gorcon Metallurgical Services, located in Wales, and Goricon LLC of US, located in Ohio. These units are engaged in the manufacture of darts, lances and ladle powers.

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