Gala Precision Engineering has entered into a Memorandum of Understanding / Agreement for acquisition of industrial land situated at Village Vardha, Taluka Wada, District Palghar, Maharashtra, to support the company's existing business operations and future expansion plans. The proposed land acquisition is intended to facilitate the establishment of new manufacturing and operational facilities, enhance production capacity, strengthen infrastructure capabilities, and cater to the company's long-term growth and strategic business objectives.
The proposed acquisition is for an aggregate land area of around 10.16 acres for an aggregate consideration of Rs 9 crore, subject to completion of title verification, legal and technical due diligence, mutation/transmission formalities, receipt of required documents/approvals and execution/registration of the final sale deed.
Gala Precision Engineering is a precision component manufacturer of technical springs like DSS including wedge lock washers; CSS and SFS supplying to OEMs, Tier 1 and channel partners; used in sectors like renewable energy including wind turbine and hydro power plants, various industrial sectors such as electrical, off highway equipment, infrastructure and general engineering, mobility segments such as automotive and railways.
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