Pennar to acquire France-based aerospace machining company Cadnum SARL

Pennar Industries announced that its wholly owned subsidiary, Pennar Gmbh, Germany has entered into share purchase agreement with Serge DUMAS on 13 July 2022 to acquire 100% equity in Cadnum SARL.

Cadnum is an engineering & precision machining company which was established in 1988. The facility is based out of Villebret, France. The acquisition will help Pennar in entry into aerospace OEM supply.

The transaction involves a cash consideration of 1,80,000 Euros (approx. Rs 1.6 crore).

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