Morgan Advanced Materials Plc (LON:MGAM), the global leader in advanced ceramics and carbon systems for technologically demanding applications, has completed the disposal of its full shareholding in Foseco India Limited, 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.
