The Ashok Punj-owned PSL Limited, the largest manufacturer of pipes in India, has filed for insolvency under the Insolvency and Bankruptcy Code, 2016. It owes Rs 4,000 crore to 24 banks and other institutions, including...
ABC Bearings board approves merger with Timken India; stock zooms 62%
ABC Bearings was locked in upper circuit for the second straight day, up 20% at Rs 286 on BSE, after the company said that the board has approved the merger with Timken India. Shareholders of ABC Bearings will get five...
Kirloskar Oil Engines to buy La-Gajjar Machineries
Kirloskar Oil Engines Ltd said it has executed a definitive agreement to buy a majority stake in La-Gajjar Machineries (LGM), the maker of Varuna and Raindrop brands of electric pumps. Kirloskar will acquire a 76% stake...
Polyhose acquires Ashok Leyland-John Deere JV facility
Polyhose Group, which has been manufacturing hoses for both the Indian and export markets, has acquired the construction equipment manufacturing facility of the Ashok Leyland-John Deere, joint venture, to foray into...
Ashland completes acquisition of Reichhold’s composites facility in France
Ashland Global Holdings Inc has completed the previously announced acquisition of a composites resin manufacturing facility in Etain (France) and its associated business from Reichhold Holdings International BV. The...
U.S. FTC approves Emerson Electric’s acquisition of Pentair with conditions
The U.S. Federal Trade Commission gave its blessing to Emerson Electric Co’s (EMR.N) acquisition of industrial valve manufacturer Pentair PLC (PNR.N) on condition that it sells Pentair’s switchbox business...
Sterlite Tech plans Rs 1,200 crore investment for new OFC plants
Buoyed by growth in net profit, optical fibre firm Sterlite Tech plans to invest up to Rs 1,200 crore to scale up its optical fibre cable production in two years. “Earlier we had announced increase of OFC...
Cosmo Films to invest Rs 250-cr to set up speciality polyester films plant
Cosmo Films Limited, a manufacturer of multiple types of bi-axially oriented polypropylene (BOPP) and cast polypropylene (CPP) films, is planning to invest Rs 250 crores to install a new production line for speciality...
Samsonite says to buy U.S. online bag retailer eBags for $105 million
Samsonite International S.A. (1910.HK) said on Friday it would buy U.S.-based online travel bags retailer eBags Inc for $105 million cash, as the luggage maker accelerates the growth of its e-commerce business in North...
3M to buy Johnson Controls’ safety gear business for $2 billion
3M Co (MMM.N) said on Thursday it would buy Johnson Controls International Plc’s (JCI.N) safety gear business, Scott Safety, in deal with an enterprise value of $2 billion. Scott Safety makes respiratory and...
Ducon eyes acquisitions in North America & Europe to accelerate growth
Ducon Infratechnologies Limited, a provider of technology solutions in digital and infrastructure space, will pursue inorganic strategy to accelerate its business growth actively. This strategy would not only fast?track...
Safran says will take account of Zodiac forecasts in takeover talks
Safran (SAF.PA) reaffirmed its interest in taking over aircraft parts manufacturer Zodiac (ZODC.PA) on Tuesday but said it would incorporate “the consequences” of Zodiac’s new financial forecasts into...