Kirloskar Ferrous Industries has received its board’s approval for acquisition of movable and immovable assets relating to the pig iron plant of VSL Steels for a cash consideration of Rs 155 crore payable in installments, subject to certain commercial conditions, necessary governmental or regulatory approvals and the approval of the Board of Directors and the shareholders of VSL Steels. The company’s board gave approval for the same at its meeting held on July 28, 2016.
Kirloskar Ferrous Industries is engaged in business of manufacturing pig iron and ferrous casting. At present the company is having two manufacturing plants, one at Koppal district in Karnataka state and another at Solapur in Maharashtra state.
