Confidence Futuristic Energetech acquires stake in Maruti Koatsu Cylinders

Confidence Futuristic Energetech said that it has acquired a stake of 50% Maruti Koatsu Cylinders, a Gujarat-based industrial company that manufactures high pressure seamless cylinders for gases, compressed natural gas (CNG) and cascades.

The financial terms of the deal were not disclosed.

Headquartered in Halol, Maruti Koatsu Cylinders has an operational plant which has a capacity to manufacture 1,80,000 per annum of high pressure/CNG cylinders.

Confidence Futuristic Energetech acquires 50% stake in Maruti Koatsu Cylinders. Photo courtesy of kobitriki from Pixabay.

Confidence Futuristic Energetech, which sells composite LPG cylinders under the Go Gas Elite brand, said that the stake in Maruti Koatsu Cylinders will further help to deliver clean and green fuel CNG to all the corners of India.

Nitin Khara — Chairman and Managing Director of Confidence Futuristic Energetech said: “With the growing demand of CNG in the coming years this move will help to achieve further growth for the company. Further, this acquisition will provides competitive and locational advantage to the company.”