AIA Engineering’s Subsidiary Acquires 14% Stake in Australian Firm
Filing Summary
AIA Engineering Limited’s wholly-owned subsidiary, Vega Industries (Middle East) FZC, has acquired an additional 14% stake in VEGA MPS PTY LIMITED, Australia. The acquisition was completed for a total consideration of AUD 5,639,184, bringing Vega ME’s total ownership to 70%. The transaction aligns with the Share Purchase and Shareholders’ Agreement dated August 3, 2023. VEGA MPS PTY LIMITED specializes in the design and supply of mining liners and other parts for the mineral processing industry. The acquisition was finalized on December 10, 2025, with the payment made to the promoters of VMPS.
AIA Engineering Limited has announced that its wholly-owned subsidiary, Vega Industries (Middle East) FZC (Vega ME), has acquired an additional 14% stake in VEGA MPS PTY LIMITED (VMPS), Australia. This acquisition was completed for a total consideration of AUD 5,639,184. Following this transaction, Vega ME now holds a 70% stake in VMPS, as per the Share Purchase and Shareholders’ Agreement dated August 3, 2023.
The acquisition was executed through a cash consideration. The payment of AUD 5,639,184 was made to the promoters of VMPS on December 10, 2025. This transaction is classified as a related party transaction, with Vega ME already holding a 56% stake in VMPS prior to this acquisition. The transaction was conducted at arm’s length, ensuring compliance with regulatory standards.
VEGA MPS PTY LIMITED is engaged in the business of designing and supplying mining liners and other parts, along with providing process engineering, project management, and quality control capabilities for the mineral processing industry. The company was incorporated on June 28, 2023, following the transfer of the entire business of Mining Products and Service Pty. Ltd., Australia (MPS) during the fiscal year 2023-24. For the fiscal year 2024-25, VMPS reported a turnover of AUD 34.25 million and a profit of AUD 5.92 million.
The acquisition does not require any governmental or regulatory approvals. The objective of this acquisition is to enhance Vega ME’s capabilities in the mining liner business, aligning with AIA Engineering’s strategic focus on expanding its presence in the mineral processing industry. The transaction is part of a broader strategy to consolidate and strengthen the company’s position in the market.
The acquisition was finalized on December 10, 2025, with the payment made at 11:20 A.M. The shares were transferred from the promoters of VMPS to Vega ME on the same day. This transaction marks the completion of Vega ME’s acquisition of a majority stake in VMPS, as outlined in the initial agreement.
AIA Engineering Limited is a leading manufacturer of high chromium wear, corrosion, and abrasion-resistant castings used in the cement, mining, and thermal power generation industries. The company focuses on expanding its global footprint and enhancing its product offerings to cater to the evolving needs of its clients in the mineral processing sector.