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Balu Forge Industries executes agreement with Hilton Metal Forging; Stock gains

The Licensee is engaged in the business of machining and manufacturing of all kinds of forged components.

October 18, 2021 10:14 IST | India Infoline News Service
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Balu Forge Industries Ltd has informed that the Board of Directors on October 15, 2021 have executed a Leave & License Agreement between the Company and Hilton Metal Forging Limited for taking on Leave and License basis the Hilton's Factory situated at Shah & Mehta Industrial Estate, District Palghar, Maharashtra for a period of five years. 

The Licensor is inter alia, engaged in the business of manufacturing of forging parts, including forged engineered products forged from steel, stainless steel, aluminum, titanium, buttweld fittings, etc.

It also includes products of stainless steel flanges, crankshafts, applications in the railway industry, defense industry, public utility works, flanges and valves, gaskets, applications in oil and natural gas industry, hydraulic fittings, connecting rods, front axles, stub ends, products forged from all alloy and non-alloy composition, etc.

At around 10:13 AM, Balu Forge was trading at Rs264.50 per piece higher by 0.46% on the  BSE.

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