Disposal of shareholding in Foseco India Limited

Summary by AI BETAClose X

Morgan Advanced Materials plc has completed the disposal of its entire 15% shareholding in Foseco India Limited, comprising 1.2 million shares, for gross consideration of approximately INR 6,530 million. The company anticipates net proceeds of around £53 million, which will be applied to reduce net debt, aligning with the Group's de-leveraging strategy and its expectation of leverage remaining at approximately 1.7x by the end of FY 2026. These FIL shares were originally received as partial consideration for the sale of the Molten Metal Systems business to Vesuvius plc.

Disclaimer*

Morgan Advanced Materials PLC
28 August 2026
 

Press Release

Morgan Advanced Materials plc

28 August 2026

 

Disposal of shareholding in Foseco India Limited

 

Morgan Advanced Materials plc, the global leader in advanced ceramics and carbon systems for technologically demanding applications, is pleased to announce that it has completed the disposal of its full shareholding in Foseco India Limited ("FIL"), comprising 1.2 million shares and representing approximately 15% of FIL's issued share capital.

Gross consideration received was c. INR 6,530 million. We expect net proceeds of c. £53 million subject to finalisation of tax treatment. The proceeds will be used to reduce net debt, consistent with the Group's previously stated focus on de-leveraging. The Group continues to expect Leverage to be c. 1.7x by the end of FY 2026.

The FIL shares were received as partial consideration for the sale of the Molten Metal Systems business to Vesuvius plc, announced on 22 August 2025 and completed on 12 November 2025.

 

For further information, please contact:

Richard Armitage, CFO

Morgan Advanced Materials

01753 837 000

Nicholas Frost, Investor Relations

Morgan Advanced Materials


Martin Robinson

Teneo

0207 427 1572

Giles Kernick

Teneo

0207 427 5412

 

 

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