Autoline Industries’ subsidiary -- Autoline Industrial Parks has executed a Memorandum of Understanding (MoU) with Poddar Habitat (subsidiary of Poddar housing and development) on August 22, 2017 to discuss modalities for developing a Township Project, on approved Special Township Scheme at its 104 Acre land located at Chakan, Pune (Maharashtra).
Earlier, the company had entered with potential developer into a non-binding MOU for having without prejudice discussions with respect to jointly develop the said township project. Since the parties could not reach mutually acceptable terms and no satisfactory agreement was arrived at, the company decided to discontinue the without prejudice discussions with said developer.
Autoline Industries is engaged in the manufacturing of various auto parts/sheet metal components for passenger cars, sports utility vehicles (SUV), commercial vehicles, two-wheelers, three-wheelers, tractors, etc. The company is also exporting auto parts i.e. brake shoes for Mercedes Benz trailers to Saudi Arabia, Dubai, etc.
