Hariom Pipe Industries has received approval for acquisition of Operating Assets (Building and Plant & Machinery) of M/s. Ultra Pipes (Partnership Firm) registered under the Partnership Act, 1932, based on the recommendation of Audit Committee. This purchase/acquisition is for a consideration of Rs 40.16 crore.
The acquisition of M/s. Ultra Pipes will ensure operational efficiency and enhance the overall business prosperity of Hariom Pipe Industries. The acquisition process will be completed in reasonable time. The Board of Directors of the Company at their meeting held on May 27, 2024, inter-alia has considered and approved the same.
Hariom Pipe Industries is an integrated manufacturer of Mild Steel (MS) Pipes, Scaffolding, HR Strips, MS Billets, and Sponge Iron.
