Business Update15 Oct 2025, 03:35 pm
AIA Engineering Subsidiary, Welcast Steels, to Permanently Close Manufacturing Facility in Bengaluru
AI Summary
AIA Engineering Ltd. announced that the Board of Directors of its subsidiary, Welcast Steels Limited (WSL), has decided to permanently close its manufacturing facility located at Plot No.15, Phase-1, Peenya Industrial Area, Bengaluru — 560 058. The decision comes due to the old technology and high production costs at the plant, leading to unviable operations. WSL has already provided the necessary disclosure to BSE Ltd. The closure will not have an adverse effect on the company as there is sufficient surplus capacity to meet its requirements. The estimated closure date is 15th December, 2025.
Key Highlights
- AIA Engineering's subsidiary, Welcast Steels Limited, to permanently close its manufacturing facility in Bengaluru.
- The decision comes due to high production costs and outdated technology at the plant.
- Welcast Steels has provided the necessary disclosure to BSE Ltd.
- The closure is not expected to have an adverse effect on the company's operations.
- The estimated closure date is 15th December, 2025.