Ramkrishna Forgings To Acquire Majority Stake In Tsuyo Manufacturing
Ramkrishna Forging, one of the suppliers of rolled, forged, and machined products has intentions to acquire up to 51 per cent voting rights of Delhi-based Tsuyo Manufacturing (Tsuyo), a start-up working in powertrain solutions for electric vehicles.
The proposed investment will help Tsuyo to use the technological expertise and manufacturing skills of both organisations to enhance its product portfolio and expand its facilities for the manufacture of motors, controllers, e-axles, and differentials.
Ramkrishna Forging aims to invest around Rs. 100 crore over the next 5 years, which is expected to generate a turnover of around Rs. 500 crore by the end of the fifth year.
Lalit Khetan, Whole-time Director & CFO of Ramkrishna Forgings, said, “We are excited to be partnering with Tsuyo and this acquisition will significantly improve our capabilities and expand our market share in the evolving EV segment. This transaction also brings numerous synergies that solidify our position as one of the top providers of forging solutions.”
Headquartered in Kolkata, Ramkrishna Forging started its journey in 1981 and has manufacturing facilities at Jamshedpur along with offices at Detroit in USA, Toluca and Monterrey in Mexico, Istanbul in Turkey, having warehousing facilities at Hagerstown, Louisville, Detroit in USA, Toluca, Monterrey in Mexico and Westerloo in Belgium.
Over the years, it has increased its forging and die making capacities and added machining and heat treatment facilities, including isothermal annealing, which enabled it to undertake manufacturing of components for OEMs and Tier 1 companies.
