Maithan Alloys has acquired 1,53,75,000 equity shares of Rs 10 each of Anjaney Alloys, a subsidiary company for a sum of Rs 25.40 crore, pursuant to the authority granted by the shareholders earlier.
This has resulted into conversion of subsidiary company to a wholly owned subsidiary of the company.
Maithan Alloys manufactures various grades of ferro manganese, silico manganese and ferro silicon products. It derives 45% of revenues through exports to European and Asian countries. Maithan’s manufacturing units are located in Kalyaneshwari, West Bengal and Byrnihat, Meghalaya, with a combined ferro alloy capacity of 64 MVA, which can produce more than 115,600 MTPA.
