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AIA Engineering’s arm acquires 30% stake in VEGA MPS

11 Oct 2023 Evaluate

AIA Engineering’s wholly owned subsidiary -- Vega Industries (Middle East) FZC, UAE (VEGA ME), has acquired 30% stake in VEGA MPS PTY (VMPS), Australia at a total consideration of Australian Dollar 7,860,000. VEGA ME also has an option to acquire additional 40% shares in VMPS over a period of 3 years. VMPS is a New Company, to which the whole business of Mining Products and Service Pty, Australia (MPS) has been transferred. 

The objective of the acquisition of the Business of VMPS is to strengthen its Mining Liner Business. VMPS is in the business of design, supply of mining liners and other parts, process engineering, project management and quality control capabilities for the mineral processing industry etc.

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.

AIA Engineering Share Price

3958.20 34.05 (0.87%)
17-Apr-2026 16:59 View Price Chart
Peers
Company Name CMP
AIA Engineering 3958.20
Alicon Castalloy 684.70
Nelcast 141.10
Steelcast 295.55
Synergy Green Inds. 514.80
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