Acquisitions22 Aug 2025, 07:32 pm
Foseco India Limited to Acquire 75% Stake in Morganite Crucible India Limited for Foundry Business Expansion
AI Summary
Foseco India Limited (FIL), a part of Vesuvius Group, has signed a definitive agreement to acquire a 75% stake in Morganite Crucible India Limited (MCIL) from its current promoters. The acquisition aims to increase FIL's exposure to the Foundry business in India and strengthen its position in the non-ferrous applications market. The deal is expected to be completed by early October 2025, subject to regulatory approvals and customary conditions. This acquisition aligns with the Vesuvius Group's strategic ambitions to expand its Foundry business into the faster-growing non-ferrous market segment and increase its global Foundry business's exposure to the Indian market.
Key Highlights
- FIL to acquire a 75% stake in MCIL, the holding company for Molten Metals Systems (MMS) business in India
- The acquisition to increase FIL's exposure to the Foundry business in India and strengthen its position in the non-ferrous applications market
- The deal is subject to regulatory approvals and customary conditions, expected to be completed by early October 2025
- The acquisition aligns with the Vesuvius Group's strategic ambitions to expand its Foundry business into the non-ferrous market segment and increase its global Foundry business's exposure to the Indian market
- Substantial cost synergies expected to create value for the Vesuvius Group