Menon Pistons has entered into a Share Purchase agreement with Rapid Machining Technologies for the purchase of 4,49,273 Equity shares of Rs 10 each which amounts to 100% of the paid up capital of the Company. The said Investment is within the authorisation limit of Rs 12,00,00,000. Rapid Machining Technologies would be a wholly owned subsidiary of the Company.
Rapid Machining Technologies are into business of manufacturing of fabricated metal products and metal working service.
Menon Pistons is an India-based company. The Company is manufacturer of auto components, such as aluminum alloy pistons, gudgeon pins and piston rings for passenger cars (diesel and gasoline), heavy and light commercial vehicles, heavy duty diesel engines for power generation, off highway vehicles, and compressors.
