Ramkrishna Forgings Ltd Makes Strategic Acquisition of MultiTech Auto and Mal Metalliks
In a significant move to expand its portfolio and strengthen its presence in the automotive sector, Ramkrishna Forgings Ltd announced the successful acquisition of Multitech Auto Private Ltd and its wholly-owned subsidiary Mal Metalliks Private Limited. The deal, valued at Rs 205 crore, marks a strategic step for Ramkrishna Forgings as it aims to broaden its capabilities in manufacturing various automobile components.
Multitech Auto and Mal Metalliks have established themselves as key players in the automotive parts manufacturing industry. Their product range includes assembly top covers, shift cylinders, assembly gears, differential cases, differential covers, and various types of hubs, among other critical components used in automobiles.
The acquisition, finalized on Monday, is expected to strengthen Ramkrishna Forgings’ position in the automotive market, providing access to a broader range of products and bolstering its ability to serve its customers with a comprehensive suite of high-quality components.
In a statement, Ramkrishna Forgings expressed its enthusiasm for the acquisition and highlighted the mutual benefits it will bring to all stakeholders involved. By bringing Multitech Auto and Mal Metalliks under its wing, Ramkrishna Forgings aims to enhance its manufacturing capabilities, optimize production processes, and foster innovation to meet the evolving demands of the automotive industry.
With this strategic move, Ramkrishna Forgings is poised to tap into new growth opportunities, diversify its product offerings, and strengthen its position as a leading player in the automotive component manufacturing sector.
The acquisition also signifies a strong commitment to excellence and innovation, which has been a cornerstone of Ramkrishna Forgings’ success. By incorporating Multitech Auto and Mal Metalliks’ expertise and technological advancements, Ramkrishna Forgings is positioning itself to stay at the forefront of automotive manufacturing and cater to the ever-changing needs of its customers.
Furthermore, this acquisition aligns with the Indian government’s vision of promoting domestic manufacturing and creating a self-reliant, robust industrial ecosystem. Ramkrishna Forgings’ move to expand its manufacturing capabilities complements the government’s “Make in India” initiative, which aims to encourage indigenous production and reduce dependency on imports.
As the automotive industry continues to evolve with advancements in technology, sustainability, and customer preferences, Ramkrishna Forgings’ acquisition of Multitech Auto and Mal Metalliks reflects its forward-thinking approach to stay ahead in a highly competitive market.The successful integration of Multitech Auto and Mal Metalliks into Ramkrishna Forgings’ business operations will be a critical aspect of this acquisition. By fostering collaboration, sharing best practices, and leveraging each other’s strengths, the combined entity is poised to unlock new avenues for growth and drive innovation in the automotive sector.
As a result of this acquisition, Ramkrishna Forgings will be better positioned to cater to the diverse needs of its customers, offering a comprehensive range of high-quality automotive components, including those critical to safety, performance, and efficiency.Moreover, this strategic move is expected to strengthen Ramkrishna Forgings’ relationships with key players in the automotive industry, enabling the company to be a preferred partner for major original equipment manufacturers (OEMs) and Tier 1 suppliers.
News Mania Desk/ Agnibeena Ghosh , 24 July 2023
