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Article: India : Balkrishna Steel takes over Kadvani Forge.
- Article from:
- TendersInfo
- Article date:
- July 25, 2009
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Byline: pinto03
Balkrishna Steel Forge, a manufacturer of pipes used for transporting petroleum products, has acquired Rajkot-based forging company Kadvani Forge Ltd (KLF).
The company is an indirect supplier of gearbox parts used in Tata Motor s Nano car.
Vitthalbhai Dhaduk, KFL s new chairman, confirmed that the company had been taken over. He, however, refused to divulge further stating that the takeover process was still on.
According to sources close to the development, the deal size was about Rs 34 crore.
It is good deal for us as KFL is a big name in forging industry. We will not take up any new projects for KFL as the ...