Ramkrishna Forgings to acquire stake in TSUYO Manufacturing

19 Dec 2022 CW Team

On Thursday, Ramkrishna Forgings said that its board had approved a plan to buy up to a 51% share in TSUYO Manufacturing.

The business kept the deal's size a secret.
The company's board of directors made a resolution in this regard at a meeting on Wednesday, according to a statement from Ramkrishna Forgings.

The statement read, "The Ramkrishna Forgings board of directors has approved an investment to purchase up to 51% voting rights of TSUYO, a Make-In-India startup firm involved in powertrain solutions for electric vehicles.

With this projected investment, TSUYO will be able to increase the variety of products it offers and extend the factory space where it makes motors, controllers, e-axles, and differentials.

"We will be able to advance our commitment to assisting the rise of electric vehicles in India and elsewhere thanks to this key investment. With this acquisition, our skills will be greatly enhanced, and our market share in the developing EV segment will increase "According to Ramkrishna Forgings, the director and CFO is Lalit Khetan.

Kolkata-based Closed die forgings of carbon and alloy steel, micro alloy steel, and stainless steel are produced and supplied by Ramkrishna Forgings.

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