Foseco expands its foundry presence in India and acquires 75% stake in Morganite Crucible in IndiaReading time: min | Bildquelle: FosecoThe shares are being acquired from the previous owners Morganite Crucible Limited and Morgan Terrassen BV, both part of the Morgan Group. With this strategic move, FIL is strengthening its presence in the Indian foundry sector, particularly in the dynamically growing non-ferrous metals segment. Under the terms of the agreement, FIL will issue 1,150,800 new shares in exchange for the 75 per cent stake. The share exchange ratio is 274 FIL shares for every 1,000 MCIL shares. ‘This acquisition expands our capabilities by adding MMS's high-tech product range,’ said Ravi Kirpalani, Chairman of Foseco India Limited.