Smiths & Founders (India) has informed that the Company has shifted its Foundry Division from Plot Nos. 29-L,K & J, KIADB Industrial Area, Machenahalli, Shimoga District, Karnataka to Plot No. N 12 & 13, Industrial Estate, Sagar Road, Shimoga 577 204, Karnataka to integrate its entire operations (Foundary & Forging) in one location. The Company has sold its land and building at Plot Nos. 29-L, K & J, KIADB Industrial Area, Machenahalli, Shimoga District, Karnataka. The sale consideration will be utilized to repay its unsecured loans and meeting its working capital requirements.
The above information is a part of company’s filings submitted to BSE.
