Autoline Industries approves takeover of Nirmiti Auto
Sheet metal assemblies maker Autoline Industries Ltd on Thursday said that it has approved 100 per cent takeover of Nirmiti Autocomponents Pvt Ltd.
By PTI |
MUMBAI: Sheet metal assemblies maker Autoline Industries Ltd on Thursday said that it has approved 100 per cent takeover of Nirmiti Autocomponents Pvt Ltd, a manufacturer of pedal systems, door hinges, sheet metal components and fabricated assemblies.
The board of directors took a decision to this effect at its meeting, the company said in filing to the Bombay Stock Exchange.
The acquired company is also engaged in design of press tools, dies, plastic injection moulds, die casting, dies, jigs and fixtures, rubber moulds, press components and plastic mould components.
It has manufacturing facilities at Pune and Uttaranchal, it said.
The takeover is proposed in two stages, 76 per cent immediately and balance 24 per cent within next 6 months, it said.
The company has received Letters of Intent for new business from customers like Daimler Chrysler India Pvt Ltd, Cummins Power Generation, USA, and Tata Daewoo, South Korea, it said.
The board of directors took a decision to this effect at its meeting, the company said in filing to the Bombay Stock Exchange.
The acquired company is also engaged in design of press tools, dies, plastic injection moulds, die casting, dies, jigs and fixtures, rubber moulds, press components and plastic mould components.
It has manufacturing facilities at Pune and Uttaranchal, it said.
The takeover is proposed in two stages, 76 per cent immediately and balance 24 per cent within next 6 months, it said.
The company has received Letters of Intent for new business from customers like Daimler Chrysler India Pvt Ltd, Cummins Power Generation, USA, and Tata Daewoo, South Korea, it said.
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