AIA Engineering’s wholly owned subsidiary -- Vega Industries (Middle East) FZC, UAE (VEGA ME) has entered into an Agreement to acquire 30% stake in the business of Mining Products and Service Pty., (MPS), Australia, by entering into Share Purchase Agreement and Shareholders' Agreement with the Promoters of Vega MPS Pty., Australia, a newly incorporated Company, created by Promoters of MPS. These agreements are subject to transfer of business of MPS into Vega MPS Pty. The acquisition will be completed in 3 months from the date of the execution of Share Purchase Agreement. VEGA ME has an option to acquire additional 40% Shares of Vega MPS Pty. over a period of 3 years.
AIA Engineering, a certified ISO 9001 company, specialises in the design, development, manufacture, installation and servicing of high chromium wear, corrosion and abrasion resistant castings used in the cement, mining and thermal power generation industries.
Company Name | CMP |
---|---|
Electrost Castings | 179.65 |
AIA Engineering | 3841.00 |
Kirloskar Ferrous | 576.05 |
Nelcast | 153.90 |
Alicon Castalloy | 875.05 |
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