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Pritika Auto Industries completes acquisition of Amrit Duraparts

Capital Market 

Total installed capacity increases to 50,000 tons per annum in FY 2018

Pritika Auto Industries announced the completion of acquisition of assets (Land, BUilding & Machinery) of their unit no:2 Located at Village Simbli on Phagwara -Road,

The newly acquired foundry has a capacity of 12,000 tons per annum. The foundry is spread over 4.8 acres of land with ample scope for future expansion. This plant is new, unused, ready for immediate use with best in class facilities and is located very close to the industrial bases of Ludhiana, and Hoshiarpur, creating a significant growth opportunity for Pritika.

With this acquisition and completed brownfield expansion, the total installed capacity of the Company will increase to 50,000 tons per annum in FY18, enabling the Company to achieve its vision of FY20 well ahead of time.

The Company has formed a wholly owned subsidiary for this competed acquisition in the name of "Pritika Engineering Components", in which this plant, land and assets will be held in.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, April 17 2018. 14:12 IST
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