Birla Precision Technologies has executed two Memorandums of Understanding (MoUs) with M/s. Swastik Developers, through its partners Balu Vaijnath Gaikwad and Babasaheb Gangadhar Solunke, for the sale of land and structures for a consideration of Rs 27.31 crore, and for the sale of scrap material for a consideration of Rs 2.75 crore, pertaining to the foundry division located in Aurangabad.
The above transactions are part of the company’s strategic decision to monetize non-core assets post closure of the Foundry operations, which have remained non-functional since February 2023.
Birla Precision Technologies is engaged in the manufacturing and selling of Machine Tool Accessories, Tools, Precision / Automotive Components and Castings.