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

06 Jul 2026

ABS Marine Sees CRISIL Credit Rating Upgrade

ABS Marine Services has secured an upgrade to its long term and short term credit ratings from CRISIL, reflecting improved profitability and revenue growth through long term contracts. CRISIL moved the long term rating from BBB+/Stable to A-/Stable and revised the short term rating from A2 to A2+. The action signals strengthened financial metrics and operational resilience. The company benefited from durable client relationships with firms such as ONGC and Schlumberger. The rating decision followed stronger cash flows and an enlarged bank loan facility, which increased from Rs 3,705 million (m..

Project BRAHMANK Marks 16 Years Of Strategic Roads In Arunachal

Project BRAHMANK is marking 16 years of work to establish strategic road and bridge links across Arunachal Pradesh, maintaining and developing 811 kilometres of roads and nearly 86 bridges that range from small culverts to large steel and arch bridges. These transport links are described as critical for ensuring year-round movement of defence personnel, equipment and essential supplies while improving everyday travel for people in remote villages. The project balances national security requirements with regional development by focusing on reliable access in challenging terrain. Notable enginee..

Longleng CSOs Give One Week Ultimatum Over Two-Lane Highway

Civil society organisations (CSOs) in Longleng district have demanded immediate restoration of the deteriorating Changtongya–Longleng two-lane road and sought a detailed status report on the stalled construction within one week. The demand followed a consultative meeting convened under the Phom Peoples' Council (PPC) to discuss welfare and development concerns. PPC president YB Angam Phom said prolonged non-maintenance had caused hardship to commuters and affected transportation, local commerce and the district's development. The meeting urged authorities to undertake immediate restoration a..