Kirloskar Industries’ listed material subsidiary - Kirloskar Ferrous Industries (KFIL) has received an 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.
The board of directors at its meeting held on July 28, 2016 has approved for the same. The above is subject to certain commercial conditions, necessary governmental or regulatory approvals and the approval of the board of directors and the shareholders of VSL Steels.
Kirloskar Industries is a holding company engaged in the manufacturing of iron castings. The company’s segments are Wind power generation; Investments (Securities and Properties), and Iron Casting.
