Lloyds Engineering Works has received approval from Board of Directors for Share Purchase Agreement with the promoters of Metalfab Hightech (Metalfab) for acquisition of 21,85,000 equity shares at Rs 130 each for an aggregate consideration of Rs 28.40 crore representing 76% of the total issued, subscribed, and paid-up capital of Metalfab Hightech.
The acquisition will help the Company in strengthening its footprint in the high-growth heavy fabrication and equipment manufacturing. This acquisition is a strategic fit that complements the company’s existing business, significantly enhancing its overall capacities, capabilities, and product portfolio.
Lloyds Engineering Works (formerly known as Lloyds Steels Industries) is a designer and Manufacturer of Heavy Equipment, Machinery and Systems for Hydro Carbon Sector, Oil & Gas, Steel Plants, Power Plants, Nuclear Plant Boilers and Turnkey Projects.
