Foseco India completed the acquisition of a 75% stake in Morganite Crucible (India) for INR 6.5bn.

Foseco India, a provider of a comprehensive range of foundry technologies and equipment, completed the acquisition of a 75% stake in Morganite Crucible (India), a company that manufactures high-performance crucibles, from Morganite Crucible Limited and Morgan Terrassen, for INR 6.5bn. This acquisition aligned with the larger cross-border acquisition of Morgan’s global molten metals systems business across China, Germany, the USA, and India, by Vesuvius Group, with India accounting for the largest share of the overall deal. This acquisition aims to expand the Vesuvius Group’s Foundry business into the faster-growing non-ferrous market segment and to India.