Orient Refractories has received its board’s approval to enter into Asset Purchase Agreement (APA) with Manishri Refractories & Ceramics to acquire certain assets / plant and machinery situated at Baichuana, Tangi, Distt ? Cuttack, Orissa subject to due diligence and certain conditions set out in APA.
The proposed asset acquisition will help the Company in diversification of its existing product line by adding new products like Magnesia Carbon Bricks. The asset acquisition process is expected to get completed in next 2 months.
Orient Refractories offers a wide range of Refractory and Monolithic products for the iron and steel industry and enjoy large domestic and international clientele.
