Balasore Alloys announced that pursuant to the decision taken at the committee of board of directors held on Nov. 16, 2014, the company has executed an agreement for acquiring the business of Jabamayee Ferro Alloys as a going concern on a slump sale basis.
Balasore Alloy's, formerly Ispat Alloys is part of the renowned Ispat group of Companies, a major business house in the country, promoted by the Mittals. The groups companies are spread across several countries besides India.
BAL is one of the very few Ferro Alloys manufacturing companies in the country having captive mines and this is a major competitive advantage since availability of Chrome ore is very uncertain and the price is also exorbitant. Other raw materials are sourced from both Domestic and International Markets. The products of the company enjoy international reputation.
