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.
Tarak Patel, Managing Director – GMMPfaudler, said, “We are extremely happy to have commenced manufacturing operations within such a short period of time. Over the last few months we have seen significant improvement in order intake and the quick start-up of this facility will go a long way in growing our heavy engineering business.”
The new facility, which signals GMMP’s long-term commitment towards meeting the demands of customers, will immediately enhance the company’s capacity in heavy engineering while freeing up capacity in Karamsad to expand glass lining business, the company said in a statement.
The facility in Vatva, spread over 11.9 acres with seven manufacturing bays (built-up area of 23,617 square meters) is equipped to manufacture a wide range of heavy engineering equipment.
This includes a crane lifting capacity of 200 tonnes, deep-hole drilling (up to 1 meter) capabilities, plate rolling capabilities up to 110 mm, 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 shares gained over 4 per cent to close at ₹5,311.85 on the BSE on Monday.