Craftsman Automation to Incorporate German Subsidiary

Craftsman Automation Ltd announced its Board of Directors has approved the incorporation of a step-down wholly owned subsidiary in Germany, named Craftsman Fronberg Precision GmbH. This new entity will be established by Craftsman Germany GmbH, a wholly owned subsidiary of Craftsman Automation. The subsidiary will focus on machining and processing engine and engineering components, aiming to enhance in-house capabilities, operational flexibility, and support future growth in Germany. The initial share capital is set at EUR 25,000, with Craftsman Germany GmbH holding 100% of the shares.