Construction material trader Sicagen India has acquired precision fabrication firm Danish Steel for an undisclosed amount.
"For Sicagen India, the partnership is a long-term investment and part of its comprehensive strategy to develop and expand its manufacturing capabilities," it said in a statement released today.
Bengaluru-based Danish Steel specialises in precision fabrication of stainless steel, carbon steel, mild steel and aluminium.
Sicagen will acquire 100 per cent equity stake from the existing promoters, in a phased manner, the company said.
"This acquisition by Sicagen India will help propel the company to exploit opportunities in high end/high precision steel and metal fabrication business and will also provide significant long term growth benefits," the firm said.
Sicagen is engaged in the trading and distribution of building materials in India and internationally.
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