Dynamatic Technologies Plans To Divest Auto Divisions
Dynamatic Technologies Limited has informed that the board of directors of the company at its meeting approved the plan for the future of Auto Divisions of the Company and has directed the management to execute the following plan.
Divestment of the following assets along with businesses:
1. JKM-Auto division situated at Irrangattukottai, Sriperumbudur, Tamil Nadu;
2. Aluminium Foundry division situated at Irrangattukottai, Sriperumbudur, Tamil Nadu;
3. Wind farm property situated at Coimbatore, Tamil Nadu.
Simultaneously, take steps to ensure that JKM Ferrotech Limited becomes a 100% subsidiary of JKM Lila Automotive Limited (JIEAL), which is also the holding company of Eisenwerk Erla., GmbH.