Offline
Renold buys LG Balakrishnan's ind chain biz for £5.7m
Published on Wed, Jun 25 at 15:14 , Updated at Wed, Jun 25 at 16:46
Source : CNBC-TV18
| ads by google |
Renold has acquired the industrial chain business of LG Balakrishnan for £5.7 million. The UK-based company has picked up 75% stake, while LG Balakrishnan continues to hold 25%. LG Balakrishnan's industrial division had revenues of Rs 64 crore and EBIDTA of Rs 3 crore. It will continue to focus on making auto components, and metal forming. The company had recently demerged its forging business into LGB Forge. Shareholders would get one share of LGB Forge for one stock of LG Balakrishnan. Renold is a leading manufacturer of industrial chains. For LG Balakrishnan, the deal will bring new cutting edge technology and access to new geographies. |
By Archi Damania/CNBC-TV18Messages on Business Talk
Other comments
Marksans Pharma buys UK-based Relonchem for Rs 100 cr
THIS SCRIP COULD PROVIDE RETURNS AT PAR WITH WHAT MATRIX LABORATORIES DID WAY BACK IN 2003...
in Business Talk - Guest at 29-Aug-08 03:41
Exiting IPO depends on mkt conditions: Somerset Fund
I ASKING ONE QUESTION NOW MARKET STABIL OR NOT FOR SHORTERM INVESTMENT SO PLZ TELL ME ABOUT ...
in Business Talk - hisunny at 29-Aug-08 03:29
Rate this article
News
No News on LG Balakrishnan
Notices
25-08 LG Balakrishnan & Bros Ltd has info...
21-08 LG Balakrishnan & Bros Ltd has info...
Expert Advice
No Expert Advice on LG Balakrishnan
Management Interviews
No Management Interviews on LG Balakrishnan
Brokerage Reports
26-09 Buy LG Balakrishnan, target price o...
Technical Calls
No Technical Calls on LG Balakrishnan
Chat
Ambareesh Baliga
, Karvy Stock Broking
(01 Sep- 16:00hrs)
What's the outlook for the market?
Poll
Newsletter
Keep in touch with News day & night. Subscribe to:
Mobile Services
Get news on the move SMS to 52622
- SMS M for Market News
- SMS B for Latest Business News
- SMS S (stock name) for latest news
Explore Moneycontrol
