Indian rebar manufacturer VMS TMT Limited (VTL) has approved a merger with Aditya Ultra Steel Limited (AUSL) aimed at creating a more integrated manufacturing base and enhanced operational efficiencies, a company statement said on Tuesday, June 30.
The company with steel mill facilities in the western state of Gujarat said that the merger would be subject to approval of statutory authorities.
It said that the merged entity would ensure consolidation of the brand ecosystem under VTL’s ‘Kamdhenu’-branded rebar and seamless operations under a single listed company across business verticals in Gujarat.
The merged entity would also have a combined production capacity of 300,000 mt per year, ensuring economies of scale across procurement, production, logistics and distribution with a combined dealer network of 300, the company said.
