AIA Engineering’s wholly owned subsidiary -- Vega Industries (Middle East) FZC (VEGA ME), has acquired 13% shares of Vega Mps Pty, (VMPS), Australia at a total consideration of Australian dollar 3,999,375. So far Vega ME has acquired 43% shares of VMPS.
The objective of the acquisition of the Business of VMPS is to strengthen company’s 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. Earlier, the company had acquired 30% stake in VMPS.
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.
