Alicon Castalloy, one of the leading manufacturers of aluminum alloy castings, has acquired the castings business of Atlas Castalloy which includes transfer of Plant and machinery against issue of equity shares to the existing shareholders. The acquisition has been completed through an all-share deal wherein existing shareholders of the acquired company have been issued 12.55 lakh equity shares of Alicon.
Atlas Castalloy, which manufactures Aluminium Castings at its production facility at Chinchwad, Pune with a capacity of 6000 MTPA, generated revenue of Rs 137 crore during FY 2014-15.
Alicon Castalloy is one of the leading manufacturers of aluminum alloy castings in India and the market leader in the manufacture of cylinder heads for two wheelers.
