Windsor Machines Ltd to Sell Industrial Plots to Lloyds Engineering Works Limited for Rs. 147.50 Crores

Windsor Machines Ltd has entered into a Memorandum of Understanding (MOU) with Lloyds Engineering Works Limited for the proposed sale of industrial plots along with the factory building structures. The plots are located at Plots Number 5402, 5403, 5404 and 5405 at Phase IV, GIDC Vatva, Ahmedabad - 382445, Gujarat. The company is shifting its manufacturing operations to a new location at Chibhda, Rajkot. The transaction is subject to signing of definitive agreements, completion of customary closing conditions under the definitive agreements and receipt of regulatory or statutory approvals, if any. The sale proceeds will be used for the ongoing set up of Rajkot Plant, working capital for expansion & other general corporate purposes.