New Delhi, Oct 24 (PTI) Steel wires maker Kataria Industries on Thursday announced the acquisition of wire manufacturing business of Ratlam Wires for around Rs 31 crore.
The acquisition will strengthen its position in the steel wire sector. Ratlam Wires manufactures a wide range of steel wire products, including spring steel wires, PC strand wires, galvanised and ungalvanised wires, the company said in a statement.
Kataria Industries has acquired wire manufacturing division of Ratlam Wires for Rs 30.6 crore on a slump sale, going concern basis, it said.
Arun Kataria, MD, Kataria Industries said, "The acquisition is expected to enhance our turnover and margins through the combined synergies of both businesses. This move is perfectly aligned with our long-term growth strategy and will enable us to better serve a wider range of industries."
Kataria Industries is engaged in the manufacturing and supply of critical equipment like low relaxation pre-stressed concrete (LRPC) strands, steel wires, and post-tensioning anchorage systems which are used in sectors like infrastructure, roads, bridges, and power transmission and distribution lines.