Craftsman Automation’s Board has approved the proposal for incorporation of Craftsman Fronberg Precision GmbH in Germany by Craftsman Germany GmbH, a wholly owned subsidiary of the Company, subject to completion of statutory and regulatory formalities and such approvals as may be required under applicable laws. The Board of Directors of the Company, by way of Circular Resolution dated August 21, 2026, has approved the proposal.
Upon incorporation, Craftsman Fronberg Precision GmbH shall become a wholly owned subsidiary of Craftsman Germany GmbH and consequently a step-down wholly owned subsidiary of Craftsman Automation. The proposed entity is being incorporated for undertaking machining and processing activities relating to engine and engineering components. The incorporation is intended to support the development of in-house machining capabilities, strengthen operational flexibility and support future growth of the Group's Germany operations.
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).
