National Fittings has entered a Memorandum of Understanding (MoU) with M/s Sandfits Foundries, Coimbatore for sale of factory located at Thekkalur (Tamilnadu). Sale of the factory at Thekkalur is expected to be completed on or before March 31, 2024 ('Closing Date'), subject to receipt of requisite approvals and fulfilment of customary closing conditions.
It aims at consolidation of business which will result in cost savings as the manufacture of iron castings can be accommodated in its other facilities. The cash surplus arising from sale will enable the company to be responsive to various business opportunities and to acquire assets, invest in new ventures or expand operations.
National Fittings is engaged in the manufacture of stainless steel pipe fittings.
Company Name | CMP |
---|---|
Electrost Castings | 170.25 |
AIA Engineering | 3750.00 |
Kirloskar Ferrous | 604.40 |
Nelcast | 145.25 |
Alicon Castalloy | 871.45 |
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