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Esab India has informed the exchanges that the Board of Directors at its meeting held on February 7, 2018 have approved the acquisition of the welding business of Sandvik Asia Private Ltd, Pune. The cost of acquisition is still under finalisation between the parties, the company said in the release to the stock exchanges. Sandvik Asia is in the business of supplying welding materials for stainless steel and nickel alloys. Four employees of Sandvik Asia will be taken on the rolls of Esab India on and after completion of the deal, Esab India said. The deal involves a negligible value of current assets and liabilities with no transfer of stocks receivables. Retirement benefits would be reimbursed separately. The stock of Esab India jumped 2 per cent at ₹793.35 on the NSE.
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