BDK Valves, a manufacturer of industrial valves providing flow control solutions to global customers and Gurukrupa Group, a real estate developer, have announced the acquisition and controlling of 100% stake in Theis Precision Steel India Pvt. Ltd, which was once owned by Tata Steel Ltd., for an unspecified amount.
This is the second acquisition of international companies by the promoter group to serve customers in India and across the world.
Arjen Rijpkema, CEO, Mahler Asia BV in the Netherlands, said, “This sale of Theis Precision Steel to BDK and Gurukrupa brings it back to Indian family ownership after Theis Gmbh in Germany (which was owned by Mahler Asia) acquired it from Tata Steel in 2008. We are convinced that the new owners will contribute strongly to the further development of the company.”
Shyam Mehta, Director, Theis Precision Steel India, said, “This acquisition expands our portfolio presence and showcases our commitment to drive value for our customers. As a leading specialty cold rolled steel strips manufacturer in the country, Theis Precision is the only manufacturer of precision hot rolled solid steel profile sections by a unique process, to satisfy the customers.”
Chetan Kothari, Director, Theis Precision Steel India, said, “With the backing of BDK Valves and Gurukrupa Group, Theis Precision Steel can now become an undisputed leader in its market segment and accelerate growth and expansion.”
