Bradken Limited (ASX:BKN)
has announced that it has completed a transaction to acquire a foundry business in India.
The foundry will provide low cost manufacturing capacity in a location that has proximity to key customer markets in Australasia and Africa.
It will be initially developed as an Asian region low-cost source of high quality mill liners, coal and cement wear parts and large structural components.
The company says the foundry will compliment Bradken’s manufacturing footprint consolidation initiatives.
Bradken reported a net loss of $168 million at 31 December 2015.