Mahindra Ugine Steel Company has sold land of the company for a consideration of Rs 126 crore admeasuring about 304,398 square meters (about 76 acres) along with all buildings and structures standing thereon, situated at Jagdish Nagar, Khopoli, District - Raigad, Maharashtra to Mahindra & Mahindra . The said consideration is as per the Valuation Report of an Independent professional firm. The proposal for sale of the land is subject to necessary approvals, as may be required. The Committee of Directors of the company at its meeting held on June 15, 2013 has approved for the same.
Mahindra Ugine Steel Company is engaged in the manufacturing of alloy & special steel through Electric Arc Furnace (EAF) route & caters to the automotive, engineering, bearing & other industries. The company manufactures a wide array of products including skin components, underbody components, critical assemblies, chassis components and car body sheet metal (Body in White) parts with a total capacity of 30,000 metric tons.
