Craftsman Automation has received board’s approval for the proposal to set up a new plant/unit/factory at SIPCOT Industrial Park, Shoolagiri, Hosur. The estimated investment required is Rs 150 crore and ninety percent of which will be funded through term loans and remaining balance through internal accruals. The new unit having 15% of current aluminium products capacity is to be added within period of nine to twelve months.
The company has a presence in southern India in aluminium products, where major two-wheeler and passenger car OEMs are located. The capacity in southern India is nearly fully utilized and to tap the business potential of these OEMs, company is setting up additional manufacturing facilities in south India to cater the growing demand of automotive components. The new plant will be within 100-150 kms from major OEMs and enable the company to utilize the plant capacity optimally.
Craftsman Automation is a diversified engineering company with vertically integrated manufacturing capabilities, engaged in three business segments, namely powertrain and other products for the automotive segment (automotive -powertrain and others), aluminium products for the automotive segment (automotive - aluminium Products), and industrial and engineering products segment (industrial and engineering).
