Apollo Pipes Concludes Strategic Acquisition Of Manufacturing Unit In Bengaluru
Apollo Pipes Limited (Apollo Pipes), among the top 10 leading piping solution providing Company in India had announced that it has completed the acquisition of Kisan Mouldings Ltd’s 9,000 MTPA production unit in Bengaluru. The acquisition, which had been approved by the Company’s Board of Directors in May 2019, has been concluded for a consideration of below Rs. 30 crore.
Spread over 7 acres, the facility offers scope for further expansion for Apollo Pipes in the future. In the near-term, the Company plans to incur a nominal capex to upgrade and evaluate opportunities for debottlenecking of existing facilities.