Foseco India to Acquire 75 Per Cent Stake in Morganite Crucible

26 Aug 2025 CW Team

Foseco India Limited (FIL), part of the Vesuvius Group of companies, has signed a definitive agreement to acquire a 75 per cent stake in Morganite Crucible (India) Limited (MCIL) from its current promoters, Morganite Crucible Limited and Morgan Terrassen B.V. of the Morgan Group. The move will expand FIL’s exposure to the foundry business in India, particularly in non-ferrous applications.

MCIL is the holding company for the Molten Metals Systems (MMS) business in India, a specialist in high-tech crucibles. FIL will acquire the stake by issuing and allotting 1,150,800 fresh equity shares through a swap ratio of 274 FIL shares for every 1,000 MCIL shares.

The deal will also trigger a mandatory open offer by FIL to acquire up to 25 per cent of MCIL’s shareholding from public shareholders, in line with SEBI’s takeover regulations. The acquisition remains subject to customary approvals from regulators, FIL shareholders, and fulfilment of pre-completion covenants, and is expected to close by October 2025.

The transaction aligns with the wider acquisition of the global MMS business by the Vesuvius Group from the Morgan Group. The acquisition will strengthen the Group’s presence in the fast-growing non-ferrous segment in India, while enhancing synergies across its global foundry operations.

Ravi Kirpalani, Chairman of Foseco India, said: “This transaction will strengthen our business through offering the high-tech solutions that MMS brings. The expanded business will benefit from being part of the Group’s global foundry operations, leveraging combined R&D capability and enhanced customer reach.”

The acquisition is expected to deliver substantial cost synergies, creating long-term value for the Vesuvius Group while expanding its foothold in the Indian foundry sector.

Infrastructure Urban

09 Feb 2026

Eicher Delivers First 13.5 m Electric Intercity Sleeper Bus

Eicher Trucks & Buses, a business unit of VE Commercial Vehicles Ltd., has recently delivered its first 13.5 m electric intercity sleeper bus, marking a key milestone in India’s long-distance electric mobility segment. The first bus is being operated by LeafyBus, with plans to deploy 35 buses by March 2026 across high-demand intercity corridors in North India.The initial deployment will cover routes such as Delhi–Dehradun and Delhi–Lucknow, supporting LeafyBus’ expansion across environmentally sensitive and high-density travel corridors.Commenting on the partnership, Suresh Chettia..

HCSS Showcases Unified Construction Platform at CONEXPO 2026

HCSS will recently present the next evolution of its connected construction management platform at CONEXPO-CON/AGG 2026, bringing together construction workflows, data and teams on a single platform across the entire project lifecycle. The event will be held from 3–7 March 2026 in Las Vegas, Nevada. HCSS will host two booths at the show, demonstrating how its integrated software ecosystem enables seamless collaboration between the office, field and shop, from bid stage through to project closeout. Steve McGough, President and CEO, HCSS, said, “For 40 years, we’ve done everything within..

Berger Paints Q3 Profit Declines Despite Volume Growth

Berger Paints India has reported a mixed performance for the quarter ended 31 December 2025, with healthy volume growth and margin improvement offset by softer demand conditions and cost pressures. On a consolidated basis, revenue from operations for the quarter stood at Rs 29,840 million, compared to Rs 29,751 million in the corresponding quarter last year, reflecting a marginal increase of 0.3 per cent. EBITDA (excluding other income) was Rs 4,710 million, slightly lower than Rs 4,717 million a year earlier. Net profit declined by 8.3 per cent to Rs 2,713 million from Rs 2,960 million. Sta..