Cronimet Alloys gets nod to acquire 92% stake in Atlanta Madencilik

Cronimet Alloys India has received its board’s approval to acquire 92% stake or 57,039 equity shares of Atlanta Madencilik Ve Sanayi Ticaret Anonim Siketi, a company incorporated and registered under the laws of Turkey from Atlanta Natural Resources.

Atlanta Madencilik is incorporated and registered under the laws of Singapore for a consideration upto $3000000.

Cronimet Alloys India is engaged in the manufacture of high carbon ferro-chrome for use in the stainless steel industry. The company’s plant has an installed capacity of 25,000 MT with one 6 MVA and one 9 MVA furnace. It manufactures two standard grades of ferro chrome i.e. high silicon and low silicon.