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Construction Industry News
News Roundup: Action Construction Closing Two Acquisitions For Rs120Cr
Monday 1st Aug 2011 48
New Delhi : Action Construction Closing Two Acquisitions For Rs 120Cr - Haryana-based material handling and construction equipment manufacturer Action Construction Equipment (ACE) is close to acquiring two companies, one in India and another in China, for a total of Rs 120 crore to expand its product portfolio. The company is planning a qualified institutional placement of up to Rs 30 crore by the end of October to part finance the acquisitions. The Chinese acquisition would give it a better technology to produce on of its existing products at a lower cost while the local company will help it enter a new product line.
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