Facor Alloys Ltd, through its overseas wholly owned subsidiary Facor Minerals (Netherlands) B.V., has acquired 51 per cent stake in Netherlands-based firm Dillenburg Bergen NH Realty B.V. (DBR) for $10 million (Rs 55 crore).
DBR has a subsidiary called Cati Madencilik Ithalat ve lhracat A.S. in Turkey that has a chrome ore mining area of 572 hectare and exploration licence for an area of 26 hectare in Kayseri, Turkey.
Founded in 1955 by late Durgaprasad Saraf, Facor Alloys is a producer and exporter of ferro alloys (used as raw material for steel production). The company started its journey with a ferro manganese plant in Shreeramnagar in Andhra Pradesh and then diversified into various types of ferro alloys. It manufacturers high carbon ferro chrome and charge chrome, with a capacity of mining 65,000 TPA charge chrome and 2,50,000 TPA chrome ore.
Facor Group exports its products to countries like China, Germany, Korea, Japan, Italy, the Netherland, Taiwan, Turkey and the USA.
In April 2011, Facor Alloys acquired Chhattisgarh-based BEC Power Pvt Ltd for $3.56 million.
(Edited by Sanghamitra Mandal)