• Safe Cronite

05/04/17
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Announcement

Safe SA has acquired on 3/04 from Manoir Industries, 100% of Kartik Steels Limited capital shares for an undisclosed price.

Safe SA has acquired on 3/04 from Manoir Industries, 100% of Kartik Steels Limited capital shares for an undisclosed price.

Kartik Steels Limited is a company registered in Chennai (State of Tamil Nadu) - India with a Steel Alloy Foundry located in Ranipet (same state, Vellore District) specialized in static castings for the petrochemical industry.

The company has reported as of March 31st, 2017 yearly Net Sales of INR 135 million (equivalent to EUR 1.94 M€) with 55 employees.

Kartik Steels Ltd (soon renamed as Cronite Kartik Limited) will be integrated in the refractory division of Safe Cronite Branch as part of its strategy to become a key player on the Indian heat treatment market and to expand its manufacturing capacity for the Asian heavy alloy-castings market.

Reporting to Christian Marin, Mr Sambathu Vinayagam, current General Manager, and his team, will continue to manage the company and are very welcome in Safe Group.