Sandhar Technologies has executed share purchase agreement with its Joint Venture (JV) partner -- Kwangsung Corporation (KSC) for the sale of company’s entire stake in Kwangsung Sandhar Technologies (KSTPL), Joint Venture of Sandhar and KSC, and Kwangsung Sandhar Automotive Systems (KSASPL), Subsidiary of KSTPL, in which the company holds 4.5% stake. The company will receive total consideration of Rs 11.07 crore from the sale.
The decision to exit from the said companies aligns with the company’s strategic objective of streamlining its business operations and concentrating on its core competencies. This move is part of the company’s broader initiative to optimize resources, enhance operational efficiency, and focus on areas where it holds a competitive advantage, thereby driving long-term growth and sustainability.
Sandhar Technologies has established itself as manufacturer of automobile accessories, safety locks, door hardware etc.
