Kolkata, Jan 28 (PTI) Kilburn Engineering Ltd on Tuesday announced that it has acquired radio frequency (RF) drying and heating technologies firm Monga Strayfield for Rs 123 crore.

The take-over is expected to strengthen Kilburn's market position and enhance its offerings across key industrial sectors, a company official said.

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"This acquisition is an important step in executing our long-term growth strategy," Kilburn managing director Ranjit Lala said.

The company said the acquisition is expected to contribute Rs 80 crore to Kilburn's topline and be "margin accretive".

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The move is part of the engineering firm's strategic vision to expand its global footprint in drying and heating solutions.

Amritanshu Khaitan, Director, Kilburn added, "The acquisition of Monga Strayfield significantly expands our capabilities in drying and heating technology. We expect this acquisition to be accretive to shareholder value."

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)