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Enkei Wheels India Ltd operates into only one business segment viz. manufacturing of aluminum alloy castings wheels mainly used in auto industry. Enkei Wheels India Ltd was incorporated on March 30, 2009 as Enkei Wheels (India) Limited. The company obtained a Certificate of Commencement of Business on May 29 2009. Pursuant to Scheme of Arrangement between Enkei Castalloy Limited and the company , as approved by the Honble High Court of Judicature at Bombay vide its order dated Feburary 26, 2010, the wheel business of Enkei Castalloy Limited was vested with the company. The resulting company was incorporated with the primary objective of taking over of 'Wheel Business' of the demerged company under the scheme on 'going concern basis'. The Company during the period ended March 31, 2010 restarted MAP-1 and also constructed ETP/STP. The entire expansion was funded from internal accruals and term loans. During the year 2010-11, the company has commissioned Map-3 and re-located the Map-1 line from Alicon Castalloy Ltd. Further, the company acquired the land adjacent to their premises admeasuring approx 9.12 acres for setting up new Paint Shop and Map Lines. |
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