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Sujana Metal Acquires Three Steel Firms in $400 Million Expansion and Backward Integration Plans
BANGALORE, INDIA--June 27, 2008--Researched by Industrial Info Resources (Sugar Land, Texas)--As part of its backward integration and expansion plans, Sujana Metal Products Limited (Hyderabad, Andhra Pradesh), a leading secondary steel manufacturer in India, recently acquired three steel units that will enable it to cater to the infrastructure and realty markets in southern India. Sujana plans to invest $45 million toward the acquisition, modernization and expansions of the units: Glade Steels (Hyderabad), Saritha Steels (Visakhapatnam, Andhra Pradesh) and Sree Ganga Steels (Chennai, Tamil Nadu). These acquisitions, which will ramp up Sujana's production capacity by 300,000 tons per year to a combined 728,000 tons per year, are in line with the company's plans to achieve its target capacity of 1 million tons per year of steel production by 2010. Sujana has acquired five companies in the last 12 months and is in the process of evaluating more for potential acquisition.
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Industry Segment: Metals & Minerals
Word Count: 543 Words
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