Acquisitions6 May 2026, 03:45 pm
Sunita Tools' Subsidiary Acquires 51% Stake in New Mold Innovations
AI Summary
Sunita Tools Ltd's wholly-owned subsidiary, Sunita Defence Inc, USA, has acquired a 51% stake in New Mold Innovations LLC, a Kentucky-based specialty grease and mold manufacturing company, for USD 419,000 (approximately ₹3,98,05,000). The acquisition aims to expand Sunita Tools' manufacturing presence in the US, providing access to an established customer base in aerospace, automation, capital goods, and engineering sectors. The deal is expected to be completed within 90 days, subject to due diligence and financing.
Key Highlights
- Sunita Defence Inc acquires 51% stake in New Mold Innovations LLC for USD 419,000.
- Acquisition expands Sunita Tools' US manufacturing presence.
- New Mold Innovations has a potential annual revenue capacity of USD 1.5 crore.
- Transaction is an arm's length deal, not involving related parties.
- Acquisition is expected to complete within 90 days.
Price Impact
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