Sat Industries to acquire 69.39% stake in Aeroflex Industries

Sat Industries has received an approval to enter new line of business such as manufacture, export etc. of stainless steel hoses and fittings, machinery, sub-assemblies, machine parts, tools, gauges, jigs through acquisition of 1,58,66,074 equity shares (being 69.39% of the share capital) from the shareholders of Aeroflex Industries. The board of directors at its meeting held on March 03, 2016 has approved for the same.

The acquisition of shares will be at price to be determined as per valuation report to be obtained and subject to all permissions, sanctions and approvals as may be required.

Sat Industries has presence in a wide range of activities such as manufacturing, global outsourcing of products & services, real estate, mining and marketing activities in the field of coals.