ISMT Ltd, the Rs 1,197 crore Pune-based manufacturer of specialised seamless tubes and alloy steel, has acquired Structo Hydraulics for an undisclosed sum.
MUMBAI: ISMT Ltd, the Rs 1,197 crore Pune-based manufacturer of specialised seamless tubes and alloy steel, has acquired Structo Hydraulics AB (“Structo”) for an undisclosed sum.
Structo Hydraulics is one of the largest manufacturers of tubular components for the hydraulic cylinder industry.
It has an annual turnover of Rs 300 crore and is a supplier to many multinationals particularly those in the construction and agricultural equipment industry.
The company has marketing network throughout Europe and its factory is located in Sweden.
The buyout of Structo Hydraulics will help ISMT becoming the largest producer of tubes and tubular components for hydraulic cylinders in Europe and Asia. ISMT expects the acquisition to create a captive market of roughly 100,000 tonnes per annum of high value seamless tubes.
ISMT has also plans to expand manufacturing operations to China and in neighbouring regions.
Post acquisition, ISMT will introduce Structo’s product line in the country, offering Indian customers a full-range cold drawn tubes, skived and roller-burnished tubes and components for hydraulic cylinders.
ISMT Ltd is a globally recognised integrated precision seamless tube manufacturer. The company has positioned itself as a strong precision seamless tube manufacturer both the tube plants as well as the steel plant.
It has a strong presence in the domestic as well as the international markets for its precision tube and alloy steel products in the automobile, general engineering, bearing, energy, mining, and oil sectors.
Last year, India Seamless Metal Tubes Ltd (ISMT) has merged into India Seamless Steels and Alloys (ISSAL) to create a Rs 1,000-crore engineering company.
The merged entity, named ISMT Ltd, which is one of the largest seamless tube manufacturing companies in the Asia-Pacific region.
ISMT will offer a broad range of seamless tubes to tier-1 suppliers in auto, bearing and other engineering sectors. It will also continue to use its surplus capacity for manufacture of specialised steels. The company’s product mix is undergoing a rapid shift towards high-end products.
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