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Discover how their new 100,000 MTPA Vasai facility drives engineering innovation and infrastructure growth.","https:\u002F\u002Fmedia.magicwandmedia.in\u002Fposts\u002FJuly2026\u002Fnews\u002Ftembo-global-industries-opens-new-vasai-facility-boosts-capacity-to-100000-mtpa-0tSB5k.png","2026-07-31T02:07:26+05:30",{"title":68,"slug":69,"excerpt":70,"imageUrl":71,"publishedAt":72,"author":11,"category":12},"N.A.N. MagneTech to Invest INR 1,250 Cr in NdFeB Magnet Plant","nan-magnetech-to-invest-inr-1250-cr-in-ndfeb-magnet-plant","N.A.N. 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The transaction has been agreed upon at an enterprise value of INR 3,000 crore and will be subject to customary regulatory approvals and closing conditions. Through this transaction, ADV will fully divest its interest in Arjas, marking another successful exit from its India portfolio. This strategic business acquisition accelerates SMIORE’s forward integration plans into steel and value-add products and unlocks potential for numerous synergies and integration. \u003C\u002Fp>\r\n\u003Cp>Arjas is one of India’s top five special steel manufacturers, supplying the automobile sector. Arjas operates out of two plants spread across nearly 950 acres: its flagship manufacturing facility in Andhra Pradesh and another facility in Punjab through its wholly-owned subsidiary, Arjas Modern Steel Pvt Ltd. Arjas is currently undergoing a major expansion at both its facilities, which will enhance its consolidated capacity as well as expand its downstream facilities. India is one of the fastest-growing steel and automobile markets in the world, Arjas is geared up to benefit from the ample opportunities for the alloy steel industry in India. Apart from automobiles, Arjas caters to a host of other industries, such as energy, railways, defence, engineering, material handling, and agriculture. \u003C\u002Fp>\r\n\u003Cp>Stating that this acquisition marks a significant milestone for SMIORE as it ventures into steel and value-added products manufacturing, Bahirji A Ghorpade, Managing Director, SMIORE, said, “It not only unlocks numerous synergies but also represents a meaningful forward integration for SMIORE. The acquisition will take us another step closer to our strategic transition from a merchant miner to an integrated commodity producer.”\u003C\u002Fp>\r\n\u003Cp>According to Ghorpade, Arjas is a well-established player in the special steels segment, serving a host of critical industries that align with the government's growing focus on infrastructure and India's rapidly growing manufacturing economy. “This acquisition, coupled with our recent mining expansion, positions SMIORE on a robust growth trajectory for the years ahead,” he stated. “We look forward to working with the existing team of Arjas under the leadership of Sridhar and Visweswaran and welcoming them to the Sandur family.”\u003C\u002Fp>\r\n\u003Cp>To the customers of Arjas, he continued, “We are committed to ensure that the highest standards of quality and service that Arjas has been delivering is maintained and by combining the strength of our mining capabilities with Arjas’s expertise in steel production, we will ensure a reliable and high-quality supply of products. I want to emphasize our unwavering commitment to preserving the long-term vision of Arjas to emerge as a prominent special steel company in India, and we will continue the growth trajectory which has been set in place by ADV Partners.” \u003C\u002Fp>\r\n\u003Cp>Similarly, Suresh Prabhala, Managing Partner, ADV Partners, stated, “The acquisition of erstwhile Gerdau India and subsequent transformation into Arjas Steel was a unique control investment in a conventional industry. This investment is representative of ADV’s focus on India’s manufacturing sector, ability to take a long-term view and support management in organic and inorganic growth initiatives.” \u003C\u002Fp>\r\n\u003Cp>Prabhala further stated, “The management team led by Sridhar, under the guidance of the company’s esteemed independent directors, has done an excellent job navigating through challenging times while delivering growth. We believe that the partnership with SMIORE is a natural next step in Arjas’ journey to establish itself as a leader in the alloy steel industry in India and wish the company and the SMIORE group success in this journey.” \u003C\u002Fp>\r\n\u003Cp>Emphasizing that over the past five years, ADV and its team have contributed immensely to the successful transition of Arjas Steel into an independent entity from the erstwhile Gerdau India, Sridhar Krishnamoorthy, Managing Director, Arjas, commented, “They have supported the company through the difficult COVID period and helped implement organic and inorganic growth through investments in downstream facilities, including Kocks Block, Garrett Coiler, the setting up of a 20 MW solar power plant, and several other initiatives, and through the acquisition of the business of Modern Steel in the state of Punjab.”\u003C\u002Fp>\r\n\u003Cp>These investments provide a great platform to enable Arjas to achieve its vision of becoming one of the larger special steel manufacturers in the country, according to Krishnamoorthy. “The synergistic acquisition of Arjas by the SMIORE group will provide enhanced access to raw materials and further support capacity expansion to achieve our long-term goals,” he added. “With the support and resources of SMIORE, Arjas will be well-positioned to enhance our offerings, capabilities and deliver greater value to our customers. This acquisition represents a new chapter in our journey and my team, and I welcome and look forward to working with the leadership of the SMIORE.”\u003C\u002Fp>\r\n\r\n\u003Cp>For more information: \u003Cstrong>www.sandurgroup.com\u003C\u002Fstrong>\u003C\u002Fp>","https:\u002F\u002Fmedia.magicwandmedia.in\u002Fposts\u002FApril2024\u002FQW7Y1xJ4MscoGGXuY3Hn.jpg","https:\u002F\u002Fmedia.magicwandmedia.in\u002Fsocial\u002Fhorizontal\u002Fposts\u002FApril2024\u002FQW7Y1xJ4MscoGGXuY3Hn.jpg","2024-04-30T01:07:09+05:30",0,"SMIORE has signed an agreement to acquire a controlling interest in Arjas Steel for an enterprise value of INR 3,000 crore.\nThe acquisition serves as a strategic forward integration, transitioning SMIORE from a merchant miner to an integrated commodity producer.\nArjas Steel, a top-five special steel manufacturer, supplies critical industries including automotive, defense, energy, and railways.","Big news in the Indian steel sector! Sandur Manganese & Iron Ores Ltd (SMIORE) is set to acquire a controlling stake in Arjas Steel for INR 3,000 crore. This strategic move marks a significant milestone for SMIORE as it transitions from a merchant miner into an integrated commodity producer. By acquiring one of India's top five special steel manufacturers, SMIORE is poised to leverage massive synergies and strengthen its footprint in the automobile, defense, and infrastructure sectors. Under the leadership of Bahirji A Ghorpade, this integration signals a bold growth trajectory for the company as it aligns with India’s expanding manufacturing economy. Congratulations to the teams at SMIORE and ADV Partners on this landmark transaction! #SMIORE #ArjasSteel #SteelIndustry #BusinessAcquisition #ManufacturingIndia","Major consolidation in the steel sector: SMIORE acquires controlling interest in Arjas Steel for INR 3,000 Cr. A strategic move to boost India’s special steel manufacturing capacity and market presence. #SteelIndustry #BusinessNews","Big moves in the steel world! 🏗️ SMIORE is officially acquiring a controlling stake in Arjas Steel for a whopping INR 3,000 crore! This is a game-changer for the industry, marking a massive step forward in SMIORE's transition into an integrated commodity powerhouse. 📈 With Arjas being a leader in special steel for sectors like automotive, defense, and railways, this partnership is set to unlock huge potential for India’s manufacturing ecosystem. Exciting times ahead for the Sandur family! 🚀 #SMIORE #ArjasSteel #SteelNews #Manufacturing #IndiaBusiness #Growth #IndustryLeaders",{"title":145,"description":147,"keywords":158},"smiore, arjas steel acquisition, special steel manufacturing, india steel industry, adv partners, business mergers, commodity production, bahirji a ghorpade, steel sector investment",{"title":160,"slug":161,"imageUrl":162},"Schneider Electric Appoints Anshum Jain to Lead Global Supply Chain Operations in India","schneider-electric-appoints-anshum-jain-to-lead-global-supply-chain-operations-in-india","https:\u002F\u002Fmedia.magicwandmedia.in\u002Fposts\u002FApril2024\u002FLHIf4azdUGXlJvplLUfz.jpg",{"title":164,"slug":165,"imageUrl":166},"NORD to Unveil Efficient Solutions for Water Management at IFAT 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