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 Transport

18 Dec 2025

RVNL secures Rs 1.65 billion railway bridge project from North Eastern Railway

Rail Vikas Nigam (RVNL) has received a Letter of Award (LoA) from North Eastern Railway for a Rs 1.65 billion railway infrastructure project, strengthening its order book and showcasing its expertise in complex railway construction.The project involves constructing the substructure of a major railway bridge over the Gandak River, located between Paniyahwa and Valmikinagar stations. This is part of the doubling of the Gorakhpur Cantt–Valmikinagar railway section, aimed at improving line capacity and operational efficiency.The bridge will feature 14 spans of 61 metres each, built on double D-t..

Raebareli’s Modern Coach Factory rolls out 15,000th railway coach

The Modern Coach Factory (MCF) at Raebareli in Uttar Pradesh has achieved a major manufacturing milestone with the rollout of its 15,000th railway coach on December 15, the Ministry of Railways said.In a press note, the ministry said that MCF has already produced 1,310 coaches in the current financial year 2025–26, reflecting sustained high output at one of Indian Railways’ most advanced passenger coach manufacturing units.Established in 2007 at Lalganj in Raebareli district, MCF was built at a cost of Rs 31.92 billion with an initial annual production capacity of 1,000 coaches. The factor..

RailTel wins Rs 260.88 million IT infrastructure order from VOC Port

Navratna public sector undertaking RailTel Corporation of India has secured an IT infrastructure order worth Rs 260.88 million from V.O. Chidambaranar Port Authority (VOC Port), strengthening its presence in port-led digital transformation projects.According to an exchange filing dated December 16, 2025, RailTel has received a Letter of Acceptance (LoA) from VOC Port Authority for the implementation of advanced IT infrastructure at the port. The project is domestic in nature and is scheduled to be completed by August 15, 2026.The company said the order has been awarded in the normal course of ..