Craftsman Automation Ltd. announced that it will pay Rs. 3.75 billion to acquire a 76% share in DR Axion India Pvt., in an exchange filing.
Another car component producer with a location in Chennai is DR Axion. It produces aluminium cylinder heads, a vital auto part utilised as the engine's outer casing in passenger automobiles.
According to Craftsman Automation, the agreement will enable both businesses to maximise their advantages and cut costs.
By the end of March of the following year, the all-cash transaction is anticipated to close, at which point DR Axion will become a division of the business. The company generated a turnover of 7.16 billion rupees in 2021–2022 (April–March).
Bombay HC Orders Expert Committee To Curb Urban Chaos In Badlapur, Ensuring Systematic Town Planning
Navi Mumbai Demolition Case: Bombay HC Seeks Report To Determine If Plea Qualifies As PIL
Mumbai Environment Alert: BMC To Enforce Stricter Pollution Penalties On Construction Sites From November
26/11 Mumbai Terror Attack Case: 'Won’t Pass Any Order On Fahim Ansari’s Police Clearance Without Granting Access To State Material,' Says Bombay HC
