Sujana Group acquiring 3 steel plants for Rs 180
Sujana Group owned Sujana Metal Products Limited (SMPL) has announced that it will be acquiring 3 steel units across India. These to-be-acquired units are Visakhapatnam- based Saritha steels, Hyderabad-based Glade Steels and Chennai-based Sree Ganga Steels.
Sujana Metal Products Limited has invested Rs 180 crore for acquiring, modernizing and expanding the current capacity of these units.
The Chairman of Sujana Group of companies, Mr Y S Chowdary told the concerned media authorities, “SMPL is looking forward to catering the rapidly growing needs of the real estate industry and infrastructure market, especially in South India.”
The Group Director for Sujana Group of Companies, Mr V S R Murthy said, “Sujana’s brand of steel has become synonymous with range, quality and reliability being the ‘steel of choice’ for a growing list of industry majors who rely on Sujana for quality in several mega projects. We are known for consistent product quality, competitive pricing and timely delivery.”
SMPL’s current acquisitions are a part of company’s expansion strategy where the capacity will be enhanced to one million tonnes per annum by the end of 2010. Sujana Group’s SMPL has also acquired Kamini Steels, Handum Industries and Lakshmi Gayatri Sponge Iron.
The Managing Director of the company, Mr R K Birla said, “From a limited range of products in the construction steel segment around this time last year, the SMPL today offers an unlimited range of products in the structural steel segment (light, medium and heavy structural steels). The product range includes flats, beams, channels, angles, rounds and grades. In TMT (thermo mechanically treated) steel segment, too, SMPL has the widest range from 8 mm to 32
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