Craftsman Automation to Invest Rs 1.5 Billion in New Hosur Facility

31 Jan 2025 CW Team

Craftsman Automation Ltd, a prominent manufacturer of automotive and industrial components, has announced plans to set up a new factory at SIPCOT Industrial Park, Shoolagiri, Hosur, with an investment of approximately Rs 1.5 billion. The board approved the project to increase its aluminium product capacity in southern India, a region home to major two-wheeler and passenger car OEMs (Original Equipment Manufacturers). With current facilities operating at nearly full capacity, the company aims to meet growing demand by expanding its manufacturing infrastructure. The new facility is expected to boost production capacity by 15% within the next 9 to 12 months. Presently, the company’s plants are operating at about 75% utilisation. The new unit will enhance production efficiency while staying within 100-150 km of major OEMs. The Rs 1.5 billion investment will be largely financed through term loans (90%), with the balance funded from internal accruals, the company informed the stock exchanges. (Business Line)

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