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Autoline Industries plans to sell 100% stake in US arm

15 Sep 2014 Evaluate

Autoline Industries is planning to sell 100% stake in its wholly owned subsidiary (WOS) -- Autoline Industries USA -- for $8.5 million. The deal is subject to due diligence and other conditions precedent to the transaction.

Meanwhile, Autoline Industrial Parks, a subsidiary of the company, has received ‘Locational Clearance’ from Urban Development Department, Government of Maharashtra, Mumbai.

Autoline Industrial Parks has acquired further land and taken necessary steps to obtain the Locational Clearance for the land (104 Acres under Special Township Project) located at Mahalunge, Chakan Tal: Khed, Dist: Pune as per requirements of Urban Development Department, Government of Maharashtra.

Autoline Industries is a manufacturer of pressed sheet metal automotive components and assemblies, and is engaged in design engineering for automotive original equipment manufacturers (OEMs) based in India, the US and Europe.

 

Peers
Company Name CMP
SamvardhanaMotherson 157.50
Tube Investments 2338.60
Bosch 45599.85
UNO Minda 1115.00
Bombay Burmah Trdg. 1334.15
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