LG Balakrishnan & Bros acquires 100% shares of GFM Inc

LG Balakrishnan & Bros Ltd. | Auto Ancillary | Automobiles | BSE: 500250 | NSE: LGBBROSLTD

19 Nov 2012 Evaluate

LG Balakrishnan & Bros through its USA based subsidiary company ‘LGB USA Inc’ has acquired 100% shares of ‘GFM Inc’ located in Detroit Michigan. The deal consideration was approximately $5.5 million. GFM Inc posted a turnover of $15 million in the previous financial year.

LG Balakrishnan & Bros is a premier manufacturer of both automotive and industrial chains under the popular brand name ‘ROLON’. LGB is now surging ahead to become a metal forming company concentrating on hot, warm & cold forging, blanking, fine blanking & precision machined parts.

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Name of the IA registered with SEBI:	The Alchemists Ark Pvt. Ltd.
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Trade/Brand Name of IA:	MoneyWorks4Me Investment Advisers
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