GMM Pfaudler acquires assets of HDO Technologies

For consideration of Rs 58.46 crore

GMM Pfaudler announced that it has participated in the e-auction process for sale of Assets (factory land, building, plant and machinery, office equipment, computers, furniture and fixtures, vehicles and capital work in progress) owned by HDO Technologies (in Liquidation) (HDOT) and was declared as the successful bidder by the Liquidator.

This state-of-the-art facility, spread over 11.9 acres with 7 manufacturing bays (built up area of 23,617 square meters) is located in Vatva, Ahmedabad and is equipped to manufacture a wide range of Heavy Engineering equipment with a crane lifting capacity of 200 metric tonnes, deep-hole drilling (up to 1 meter) capabilities, plate rolling capabilities up to 110 milimeters, strip cladding capabilities, orbital welding capabilities, a 308.6 square meters clean room for fabrication of high alloy materials, vertical turret lathes and other machine tools.

A consideration of Rs 58.46 crore is being paid for the proposed assets and the tentative date for the completion of the transaction is 30 April 2021.

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