IFGL Refractories Ltd has announced that 100% of the Issued, Subscribed and Paid-up Share Capital of Goricon Metallurgical Services Ltd of Wales, UK and Goricon LLC of Ohio, USA have been acquired by the Company on December 15, 2006 through its step-down subsidiaries in UK and USA respectively. Consequently, effective that date, said Companies have also become step-down subsidiaries of the Company.