Board of Aeroflex Industries approves acquisition of Hyd-Air Engineering

Industry: Engineering 4 weeks ago

At meeting held on 02 April 2024

The Board of Directors of Aeroflex Industries at its meeting held today i.e. 02 April 2024 has approved to acquire 100% of the issued and paid-up share capital of Hyd-Air Engineering.

The cost of acquisition is Rs 17.20 crore with plans to invest Rs 18 crore to increase production capacity over next 2-3 years.

The investee company is engaged in the manufacturing of hydraulic fittings, fluid connectors and flanges.

Source: Business-Standard

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