Mahindra CIE gets Aurangabad Electricals for a shoe 30 830



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Mumbai: Mahindra CIE Automotive Ltd purchased Aurangabad Electricals Ltd Shake 830, marking how it went into the aluminum-casting industry. The building strengthens its presence in the two-wheel market, saying that the company was making a regulatory decision on Tuesday. The agreement is expected to be finalized by 10 April.

Aluminum casting algorithms are used to make smooth metal parts, defined by applying molten metal to high pressure.

Aurangabad Electricals, which were established in 1985, have five manufacturing facilities located around Aurangabad, Pune and Pantnagar in Maharashtra. It manufactures a range of body parts, brakes and engines and delivers them to local and international companies and passenger car companies and manufacturers of more direct Hier-I.

Aurangabad Electricals confirmed income from the household 565, Cròileagan and 569 Crown 651 during fiscal years 2015-16, 2016-I7 and 2017-18, respectively.

He told him to make a profit 34.4 crore at FY18.

CIE's Mahindra was the last event in 2016 when he purchased Bill Forge, a motor development company 1,332 crowns in money and stock sales with the aim of altering its industry and increasing income and profits from Asian markets.

The aim is to develop the Indian motor car engagement industry, which aims to consolidate its purchase as key private companies (PEs) and to collect part-time central staff for access. T A global market.

In 2018, a large private universe bought the Blackstone Group LLP Comstar factor-making value t 1,000 crore and followed up shortly afterwards by getting Sona BLW Precision Forgings.

In April 2018, PE funding from Kbeaara Capital home received Sunbeam Auto, which makes part of casting aluminum for near 650 pens.

The CIE Automotive SA of Spain is an industry body involved in the supply of component parts and sub-collections for cars as well as tradesmen in part of Tier-I in India, the Department of t Europe and Mexico. It is listed on stock exchanges in Madrid and Bilbao.

Mahindra & Mahindra Ltd (M&M) had been a member of the ECA in September 2013 to create a self-sufficient component supply network. He had secured a 13.5% stake in the supplier of the Spanish parts of the Spanish, whilst also retaining a direct 20% stake in the new Mahindra CIE Automotive company, which is listed in the listings. Indians.

Last year CIE raised a further 5% for it The Hanging 483 (approximately $ 70 million). The Spanish company now holds 56.32% in the registered Indian sector. Mahindra Group has a 11.44% interest in the CIE Mahindra. The case is held through the M & M unit, Mahindra Vehicle Manufacturers Eta.

For the year ended 31 December 2018, CIE's Mahindra reported on a net profit 35 pain is imported Cròileagan 2,529.

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