Pune-based Alicon Castalloy, maker of aluminium alloy castings, on Tuesday said it has acquired the castings business of Atlas Castalloy Ltd. The deal includes transfer of plant and machinery of Atlas Castalloy against issue of equity shares to the existing shareholders.
The acquisition has been completed through an all-share deal, wherein existing shareholders of the acquired company have been issued 12.55 lakh equity shares of Alicon, a company statement said.
Atlas Castalloy, which has a production facility at Chinchwad, with a capacity of 6,000 MTPA, generated revenue of ₹137 crore in FY15.