A1Metallics to acquire UK company

June 9, 2008 - PRLog -- The board of directors of A1 Metallics Ltd  ( http://www.a1metallics.com ) have informed that they are in active negotiations with Frazer Hi tech Metals Ltd UK  for a 100% equity buyout.  (for an undisclosed sum)
Frazer is a leading manufacturers of metal castings Brass forgings turned parts with foundry in Birmingham UK. A1 Metallics  in partly  owned by leading investment group Saini in India.

This acquisition will pave the way for easy entry for A1 products in to the markets of UK and other countries of Western Europe. Mr. Diwani of A1 Metallics  confirmed that post acquisition the group will have total turnover of US$ 28.5 Million and a workforce of 400 odd people.

This buy out will bring synergy to the group as they can use advance UK technology for Brass and Bronze castings and at the same time make good use of competitive Indian labour. This buy out will be 100% funded through internal accruals without any financial institute or bank playing any role.

A1 producs are currently being used by Automobile, hardware, sanitation industry with YOY growth rate of 32% in top line and 35% in bottom line.