Mumbai: Pump maker Kirloskar Brothers Ltd is looking to buy a steel casting firm to meet its shortfall in captive cast production, a senior official said on Tuesday.
The Pune-based company buys almost half its steel cast requirement of 300 tonnes a month and is in talks to buy a firm to offset the mismatch, A.R. Sathe, vice-president finance, told Reuters.
Sathe, however, declined to name the potential targets or likely value of the acquisition.
Two industry sources said a loss-making firm with a capacity to make 300 tonnes of steel casts a month and revenue of a little more than Rs 500 million was among the targets eyed by Kirloskar Brothers.