Morgan Advanced offloads Foseco India stake for Â£50m

28th Aug 2026 09:12

(Sharecast News) - Advanced ceramics and carbon systems group Morgan Advanced Materials has disposed of its full shareholding in Foseco India, made up of 1.2m shares and representing approximately 15% of the business' issued share capital.

Morgan Advanced Materials said on Friday that it received a gross consideration of INR 6.53bn (Â£50.28m) for the sale, with proceeds set to be used to reduce net debt, consistent with its previously stated focus on de-leveraging.

The FTSE 250-listed firm added that it continues to expect Leverage to be roughly 1.7x by the end of FY26.

Morgan Advanced Materials originally received the shares as partial consideration for the sale of the Molten Metal Systems business to Vesuvius, announced on 22 August 2025 and completed on 12 November 2025.

As of 0910 BST, Morgan Advanced Materials shares were up 1.26% at 240.50p.

Reporting by Iain Gilbert at Sharecast.com

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