Menon Bearings has incorporated a wholly owned subsidiary of the company in the name of ‘Flyga Auto’. Earlier, the board of directors at its meeting held on September 02, 2016 had decided to invest in the shares of a private limited subsidiary company (proposed to be incorporated) to the tune of Rs 2.95 crore approximately (29,54,350 Shares of face value of Rs 10 each), for generating a fair return on the investment. The proposed subsidiary will be engaged in dealing and distribution of Automobiles and parts thereof and any other ancillary business.
Menon Bearings is an auto part manufacturing company, promoted by the Flagship of Menon Group to manufacture world class thin walled bimetallic engine Bearings, Bushes and Thrust Washers.
