Lakshmi Machine Works has incorporated a wholly owned subsidiary company namely ‘LMW Middle East FZE’ on February 04, 2022, the incorporation documents for which were received on February 15, 2022. LMW Middle East FZE is located at Jebel Ali Free Zone, Dubai, United Arab Emirates.
Incorporation of a wholly owned subsidiary in UAE is to enable selective focus on the Middle East market and other export markets of Lakshmi Machine Works. Cost of acquisition is United Arab Emirates Dirham 2,470,500 has been paid for subscription of the 24,705 shares of United Arab Emirates Dirham 100 each of LMW Middle East FZE.
Lakshmi Machine Works is engaged in the manufacturing and selling of textile spinning machinery, CNC Machine Tools, Heavy castings and parts and components for Aero space industry. The company caters to both domestic and international markets.
