GMM Pfaudler starts operations at acquired facility at Vatva
May 24, 2021
Had emerged the successful bidder to acquire assets HDO Technologies
GMM Pfaudler Ltd (GMMP) on Monday commenced manufacturing operations at its facility at Vatva near Ahmedabad, the company said.
GMMP had emerged as the successful bidder to acquire the assets of HDO Technologies Ltd, Vatva in a liquidation process in March.
Technology process solutions provider GMMP had acquired the assets including factory land, building, plant and machinery, office equipment, computers, furniture and fixtures, vehicles and capital work in progress owned by HDO Technologies through an e-auction for a consideration of ₹58.46 crore.
GMM Pfaudler commences manufacturing operations at its facility at Vatva, Ahmedabad
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GMM Pfaudler acquires assets of HDO Technologies Limited
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GMM Pfaudler jumped 4.70% to Rs 4,418.70 after the company announced the acquisition of assets of HDO Technologies for a consideration of Rs 58.46 crore.
The company said that it had participated in the e-auction process for sale of assets (factory land, building, plant and machinery, office equipment, computers, furniture and fixtures, vehicles and capital work in progress) owned by HDO Technologies (in liquidation). It was declared as the successful bidder by the liquidator.
The acquired facility, spread over 11.9 acres with 7 manufacturing bays, is located in Vatva, Ahmedabad and is equipped to manufacture a wide range of heavy engineering equipment with a crane lifting capacity of 200 metric tonnes, deep-hole drilling (up to 1 meter) capabilities, plate rolling capabilities up to 110 milimeters, strip cladding capabilities, orbital welding capabilities, a 308.6 square meters clean room for fabrication of high alloy materials, vertical turret lathes and other machine tools.
GMM Pfaudler buys assets of HDO Technologies in liquidation
Ahmedabad |
Updated on
March 16, 2021 GMM Pfaudler Limited has emerged as a successful bidder to acquire HDO Technologies Ltd’s assets in liquidation process. The technology process solutions provider will acquire the assets, including land, building, plant and machinery for a consideration of ₹58.46 crore.
The acquisition will enhance capacity and augment the capabilities in heavy engineering for GMM Pfaulder.
HDO Technologies Limited s manufacturing facility is spread across 11.9 acres in Vatva, Ahmedabad. The plant has seven manufacturing bays and is equipped to manufacture a wide range of heavy engineering equipment with a crane lifting capacity of 200 tonnes, deep-hole drilling, plate rolling capabilities, strip cladding capabilities.