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Readymade Steel’s arm acquires two Singapore based companies

02 Sep 2013 Evaluate

Readymade Steel India's Singapore subsidiary, has entered into a conditional sale & purchase agreement (SPA) with PSL Holdings (a company listed on the Singapore Stock Exchange), for the acquisition of the entire share capital of two of its wholly owned subsidiaries, PSL Engineering (PSLE) and Rotary Piling (RPL). The aggregate consideration for the acquisition shall be approximately Rs 80 crore to 100 crore as per the terms of the conditional SPA. The acquisition is likely to be completed before the end of the year.

PSLE specializes in the provision of micro-piling, civil, mechanical, construction and ground engineering works. RPL is a specialized contractor of bored piling, civil, mechanical and ground engineering works.

Readymade Steel India is one of the pioneers in introducing the concept of ready to use steel for the construction industry in the country. RMS's product offerings include ready to use steel, primarily re-bars to be used in construction activities in various sectors like roads, power plants, ports, airports, housing, bridges, metros, monorails etc.

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