Indian castings and pig iron manufacturer Kirloskar Ferrous Industries Limited (KFIL) has acquired Oliver Engineering Limited through the bankruptcy resolution process, a KFIL statement said on Tuesday, October 3.
Following the acquisition, KFIL will have access to Oliver Engineering’s 28,000 mt per year castings capacity from the plant located in the northern state of Punjab.
KFIL said that, considering that the plant has been not in operation for a long time, it will take four to five months to bring it in back into operation.
