Two Rane Group Cos. to Merge -Friday June 28,2013

Rane Group, a leading auto component manufacturer, on Friday, announced the merger of Rane Diecast Limited (RDL) with Rane (Madras) Limited (RML) effective April 1, 2013

RDL, based in Hyderabad, manufactures precision high pressure aluminium die castings mainly for export. The company reported sales of Rs. 65 crore for the year ended March 31, 2013. It has 118 employees

RML, a leader in steering and suspension products, reported sales of Rs. 640 crore for the year ended March 31, 2013.

The exchange ratio will be one share of RML for every 30 shares of RDL