Kolkata’s Tega Industries in $1.5 Billion Global Acquisition of Molycop US

Main Article
Fri, Sep 12, 05:50 PM IST

In a landmark deal, Kolkata-based Tega Industries has announced the acquisition of Molycop US, a 107-year-old global leader in grinding media, for $1.5 billion in consortium with Apollo Funds. This move firmly establishes Tega as a world leader in critical-to-operate mining consumables.

 

About the Companies

 

  • Tega Industries (market cap: ₹13,800 crore) designs and manufactures liners, cyclone filters, large screens, and conveyor belts for mining.
  • Molycop, with over a century of expertise, produces grinding balls, rods, metal castings, and mineral-separating chemicals.

 

Strategic Impact

 

  • The merged entity will operate 26 plants, serving 400+ mining customers across 40 countries.
  • Tega strengthens its foothold in Europe, Africa, Middle East & CIS, while Molycop brings strong presence in US, Canada, Latin America & Australia.
  • The integration process, expected to take eight quarters, will align operations, product development, and after-sales service.

 

A Milestone for Kolkata

 

CEO Mehul Mohanka described the deal, coinciding with Tega’s 50th anniversary, as a transformative step:
“With this acquisition, and in partnership with Apollo Funds, we will accelerate innovation, expand market reach, and create significant value for our customers.”

 

Molycop CEO Jim Anderson called the partnership “an exciting new chapter”, while AIP, the seller, expressed confidence that the company is in “excellent hands.”

 

This acquisition is not just a corporate milestone but a proud moment for Kolkata’s industrial legacy — a rare billion-dollar global foray from the City of Joy.

 

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