New Launch29 Jan 2025, 07:48 pm
Craftsman Automation Ltd. to Set Up New Plant in SIPCOT Industrial Park, Shoolagiri, Hosur
AI Summary
Craftsman Automation Ltd. has announced its plan to set up a new plant/unit/factory at SIPCOT Industrial Park, Shoolagiri, Hosur. The proposed capacity addition is 15% of the existing capacity of aluminium products. The new plant will be financed through term loans (90%) and internal accruals (10%). The rationale behind this decision includes the fully utilized capacity in Southern India, the potential to tap business opportunities of major two-wheeler and Passenger Car OEMs, and the strategic location of the new plant within 100-150 kms from major OEMs.
Key Highlights
- Setting up of new plant at SIPCOT Industrial Park, Shoolagiri, Hosur
- Proposed capacity addition of 15% of existing capacity of aluminium products
- Financing through term loans (90%) and internal accruals (10%)
- Strategic location within 100-150 kms from major OEMs
- Aim to tap the business potential of OEMs in Southern India