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Morganite Crucible to acquire further 49% in Diamond Crucible Company

27 Jun 2017 Evaluate

Morganite Crucible India (MCIL) has received its board’s approval for acquisition of further 49% equity stake in Diamond Crucible Company (DCCL), a subsidiary of the company from Terrassen Holding, UK. Pursuant to this acquisition, DCCL would become a wholly owned subsidiary of MCIL. The company’s board has given approval for the same at their meeting held on June 26, 2017.

MCIL proposes to discharge the consideration through cash of Rs 167.5 million. The value of consideration is determined by an independent valuer.

Morganite Crucible (India) supplies crucibles. The company manufactures foundry products and equipments for temperature measurement, control of chemical composition and molten metal management.

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