Autoline Industries has entered into Memorandum of Understanding (MOU) with Poddar Habitat to transfer land at Chakan, Pune. The company will utilize the sale proceeds to settle the debt that has a charge on the immovable property and reduce overall debt exposure of the company.
The company believes that the consolidation of facilities will accrue substantial operational efficiency, cost savings, add to better working capital management and smoothening of supply chain management by utilizing the available resources in Chakan Unit.
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.
