Gujarat Apollo Industries intends to make a strategic investment by way of purchase of 26% of the total outstanding shares of Credo Mineral Industries (CMIL), an Ahmedabad-based Public Limited Company in the business of mineral beneficiation, for a consideration of approximately Rs 13 crore.
With this JV, the company would expand its existing business segment by adding value to its current core focus of manufacturing crushing / screening equipment for the mining and mineral beneficiation industry, which in turn shall continue to build value for its stakeholders.
This move would be a strategic step enabling the company to vertically integrate by entering into the business of minerals, processing, beneficiation, chemicals and further in the field of R&D. Further, this move will form strategic alliances with strong partners in their respective fields, such as CMIL and its JV Partner, GMDC.
Gujarat Apollo Industries is primarily engaged in the business of manufacturing various types of road construction and maintenance machinery with the assistance of technical tie-up with different foreign collaborators. The other activities of the company are construction.
| Company Name | CMP |
|---|---|
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| Thermax | 4078.30 |
| Kirloskar Oil Eng | 1710.95 |
| Skipper | 489.40 |
| GMM Pfaudler | 914.60 |
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