Kilburn to acquire Monga Strayfield for ₹123 crore
Times of India | 22 August 2024
Kolkata: Kilburn Engineering Limited (KEL), one of the leading manufacturers of drying equipment, has announced the proposed acquisition of Monga Strayfield Pvt Ltd, a global leader in radio frequency drying and heating solutions for Rs 123 crore, subject to adjustments. The firm had earlier acquired ME Energy.
Amritanshu Khaitan, director of Kilburn Engineering Ltd, said, “This acquisition is not only a positive step in adding a new vertical to Kilburn but also shareholder value accretive, improving the company’s overall profitability due to Monga Strayfield’s high operating margins.” Monga Strayfield, established in 1968, brings over five decades of expertise in radio frequency drying and heating solutions with a strong presence in the sheet metal fabrication industry.