- This is the second acquisition of international companies by the promoter group to serve customers in India & across the world
- Theis Precision, formerly owned by Tata Steel Ltd., is a pioneer in specialty cold rolling of high/ medium carbon steels in India
NE BUSINESS BUREA
AHMEDABAD, JULY 26
BDK Valves (a leading manufacturer of Industrial valves providing flow control solutions to global customers) and Gurukrupa Group (a leading realty developer in western India), on Wednesday announced the successful acquisition and controlling (100%) stake in Theis Precision Steel India Pvt. Ltd. (Theis Precision) located in Navsari, Gujarat. This is the second acquisition of international companies by the promoter group to serve customers in India & across the world.
Theis Precision, formerly owned by Tata Steel Ltd., is a pioneer in specialty cold rolling of high/ medium carbon steels in India. Today, it is a leading specialty cold rolled steel strips manufacturer in the country. It also is the only manufacturer of precision hot rolled solid steel profile sections, by a unique process, to satisfy the customers whose needs may be small in quantity but expectations are large.
Theis Precision caters to the need of various market segments such as automotive, textile machinery, cutting blades/saws, office machinery, general engineering, etc. It is specialised in catering to customized requirements such as desired surface finish, roughness, tempering, dimensional tolerances and packaging. In addition, the division has the capability of supplying hot rolled solid profiles, cold drawn profiles and profiles in ready-to-use form. Theis Precision’s latest addition in the product portfolio is Hardened & Tempered strips with a unique environment friendly Quench Media.
Commenting on this, Arjen Rijpkema, CEO, Mahler Asia BV in the Netherlands, said, “This sale of Theis Precision Steel to BDK and Gurukrupa brings it back to Indian family ownership after Theis Gmbh in Germany (which was owned by Mahler Asia) acquired it from Tata Steel in 2008. We are convinced that the new owners will contribute strongly to the further development of the company. They bring in-depth knowledge of the steel market, manufacturing and real estate experience which all can strengthen the business. They are geographically much closer to the plant enabling them to be more hands-on and directly involved as promotors than we could ever be from the long distance in Europe. Further I am certain that the new owners will professionally steer Theis Precision towards modernization and accelerated growth, which is fundamental to the business.”
Shyam Mehta, Director, Theis Precision Steel India, said, “The acquisition of ‘one-stop one-window’ Theis Precision Steel is a unique value- enhancing deal bringing a pioneer in specialty cold rolling of high/ medium carbon steels into our fold. This acquisition expands our portfolio presence and showcases our commitment to drive value for our customers. As a leading specialty cold rolled steel strips manufacturer in the country, Theis Precision is the only manufacturer of precision hot rolled solid steel profile sections by a unique process, to satisfy the customers whose needs may be small in quantity but expectations are large. We look forward to combining BDK Valve’s capabilities with the talent and expertise brought by Theis Precision’s team as we expand our market presence.”
Chetan Kothari, Director, Theis Precision Steel India, said, “With the backing of BDK Valves and Gurukrupa Group, Theis Precision Steel can now become an undisputed leader in its market segment and accelerate growth & expansion. The diversification in manufacturing and synergies in terms of manufacturing facilities, processes and products will give us an edge and add to the products and services offered by us to customers. Theis Precision Steel has products across sectors such as agriculture, automotive, construction, cutting tools, earthmoving and textile machinery among others. We will further invest capital in the company to quadruple our volumes to be a global player in speciality steel business.”
Theis Precision’s Cold Rolling Division, established in 1968, pioneered in India cold rolling of stainless steel and later focused on cold rolling of narrow width strips in mild, medium and high carbon and low alloy steels. It has a manufacturing capacity of 40,000 M.T. per annum. The Profiles Division, established in 1997 has a manufacturing capacity of 6000 M.T. of custom made solid profiles/sections in various grades of steel. Hardened & Tempered Division, established in 2022 has a manufacturing capacity of 4000 MT of H&T strips in high carbon and alloy grades of steel for various applications ranging from woodworking saws, Blades like Gangsaw/Bandsaw, with required edge conditions. Immediate target is to increase manufacturing capacity from 40000 MT to 150000 MT per annum, enhancing our market share in domestic & global markets.
Bathiya Legal were the sole legal advisors and Bathiya & Associates LLP Chartered Accountants were Financial Advisors.
