Published on 15/04/2019 11:31:01 AM | Source: Dion Global Solutions Ltd

APL Apollo Tubes to acquire plant at Hyderabad for Rs 70 crores


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APL Apollo Tubes Ltd has said in a filing to Bombay Stock Exchange that it is to acquire the assets of production unit located at Chegunta, Hyderabad, one of the unit of M/s Taurus Value Steel & Pipes Private Limited.

The acquisition will result in higher volumes, better competitive strength and reduced freight cost. The consideration to be paid is cash payment of Rs. 70 Crore. Taurus Value Steel & Pipes Private Limited was incorporated on 01/08/2009 and has a capacity of 2,00,000 ton per annum. The company had a turnover of Rs. 773.7 crores in FY 2017-18.