India's Kirloskar Ferrous merges subsidiary ISMTL with itself

Indian casting as well as pig iron manufacturer Kirloskar Ferrous Industries Limited (KFIL) has actually introduced the merging of its subsidiary Indian Seamless Metal Tubes Limited (ISMTL) with itself, a company statement stated on Tuesday, November 8. ISMTL is an incorporated specialized smooth tube supplier."We obtained ISMTL in March 2022 to participate in the seamless tubes market. For KFIL, this was an action in the direction of onward integration as well as product diversity. On the various other hand, for ISMT this was a step towards backward combination," KFIL chairman Atul Kirloskar said."This purchase has actually brought us a chance to integrate iron ore to seamless tubes. Currently taking a step further, we are proposing to integrate the whole organization under the umbrella of Kirloskar Ferrous Industries Ltd, to reap the harmonies in between the 2 companies," he claimed.

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