Omax Autos has received an approval to invest Rs 5 lakh in equity share capital of OMAX Engineering Services. Pursuant to this investment, OMAX Engineering Services will become wholly owned subsidiary of the company. The board of directors at its meeting held on May 28, 2013 has approved for the same.
Omax Autos manufactures sheet metal components, precision machined components, tubular metal components and sprockets for supply to domestic automotive OEMs and tier-1 auto component manufacturers in Europe and the United States.