Kilburn Engineering acquires heating tech firm Monga Strayfield for Rs 123 cr

Kolkata, Jan 28 (PTI) Kilburn Engineering Ltd on Tuesday announced that it has acquired radio frequency (RF) drying and heating technologies firm Monga Strayfield for Rs 123 crore.

The take-over is expected to strengthen Kilburn's market position and enhance its offerings across key industrial sectors, a company official said.

"This acquisition is an important step in executing our long-term growth strategy," Kilburn managing director Ranjit Lala said.

The company said the acquisition is expected to contribute Rs 80 crore to Kilburn's topline and be "margin accretive".

The move is part of the engineering firm's strategic vision to expand its global footprint in drying and heating solutions.

Amritanshu Khaitan, Director, Kilburn added, "The acquisition of Monga Strayfield significantly expands our capabilities in drying and heating technology. We expect this acquisition to be accretive to shareholder value." PTI BSM BDC

Source: PTI