Ramkrishna Forgings to Acquire Up to 51 percent Stake in TSUYO Manufacturing

#RamkrishnaForgings #TSUYOManufacturing #Acquisitions #ElectricPowertrainSolutions

Source: Ramkrishna Forgings

“We believe that this strategic investment will enable us to further advance our commitment to supporting the growth of electric vehicles in India and beyond. 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” - Lalit Khetan, Whole-time Director & CFO, Ramkrishna Forgings Limited

December 2022: The Board of Directors of Ramkrishna Forgings Limited (“Company”), one of the leading suppliers of rolled, forged, and machined products has approved an investment to acquire up to 51 percent voting rights of TSUYO Manufacturing Private Limited (“TSUYO”), a Make-In-India start-up company engaged in powertrain solutions for electric vehicles .

TSUYO currently manufactures powertrain solutions for electric vehicles. This proposed investment will help TSUYO to use the technological expertise and manufacturing skills of both organizations to enhance its product portfolio and expand its facilities for the manufacture of motors, controllers, E-axles, and differentials.

The Company plans to invest around Rs.100 Crore over the next 5 (five) years, which is expected to generate a turnover of around Rs. 500 Crores by the end of the fifth year.

Commenting on the acquisition Lalit Khetan, Whole-time Director & CFO, Ramkrishna Forgings Limited said, “We believe that this strategic investment will enable us to further advance our commitment to supporting the growth of electric vehicles in India and beyond. 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.”

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