Sujana Metal Products Limited has announced the acquisition of 3 steel units namely Saritha Steels, Glade Steels and Sree Ganga Steels.
Mr YS Chowdary chairman of Sujana Group of companies said that “These acquisitions will enable Sujana Metals to cater the fastest growing realty and infrastructure markets in southern part of India.”
The latest acquisitions by Sujana Metals are in line with the company's strategy to enhance the capacity to 1 million tonnes per annum by 2010 through acquisitions and expansion plans. It had earlier acquired Kamini Steels and Handum Industries.
Sujana Metals has targeted to reach a sales level of INR 3100 crore by 2010. In the current financial year, its sales turnover is expected to be in the range of INR 1,400 crore. It also plans to enhance its profit from an estimated INR 50 crore in the current financial year to INR 300 crore by 2010.
Source: Steel Guru