Rane Engine Valve has sold the land admeasuring approximately 6.815 acres in Chennai by way of a deed of absolute sale dated August 11, 2016. The total consideration received for this sale of land is at market value of Rs 94.82 crore.
This step has been taken towards the planned consolidation and rationalization of plant facilities across the company. Post shifting of the Alandur, Chennai plant operations to the other plants the balance portion of land owned by the company in Chennai, Alandur has been sold.
Rane Engine Valve has been incorporated to manufacture valves and valve train components for various engine applications. It has latest manufacturing practices to keep abreast of technological advancements caters to every section of the auto industry through four manufacturing plants.