Acquisitions10 Jun 2024, 01:40 pm
Pavna Industries Acquires Land Parcel in Pantnagar for Greenfield Plant
AI Summary
Pavna Industries Ltd, a leading automotive parts manufacturer, has acquired a 4335 sq. meters land parcel in Pantnagar, Uttarakhand. The new greenfield plant will cater to the demand of die cast components and strengthen the company's presence in the domestic automotive sector. The acquisition is part of the company's ongoing and future expansion plans, aiming to attract business from various original equipment manufacturers (OEMs) in and around Pantnagar. The new plant will also enable Pavna Industries to provide superior service to key client Bajaj Auto and align with its long-term goal of offering better prices to customers.
Key Highlights
- Pavna Industries acquires 4335 sq. meters land parcel in Pantnagar for a new greenfield plant.
- The new plant will cater to the demand of die cast components and strengthen the company's presence in the domestic automotive sector.
- The acquisition is part of the company's ongoing and future expansion plans, aiming to attract business from various OEMs in and around Pantnagar.
- The new plant will enable Pavna Industries to provide superior service to key client Bajaj Auto.
- The acquisition aligns with Pavna Industries' long-term goal of offering better prices to customers.