Subros To Acquire Zamil Air Conditioners
Subros Limited, in line with its long term plan and strategic intent to expand business in Home AC domain, had initiated manufacturing and business development activities in this segment during the past few years. To add product range of Indoor Unit, Outdoor Unit and Windo AC Units for realizing the growth potential faster, Subros Ltd has entered into a Memorandum of Understanding with Zamil Air Conditioners India Pvt Limited (ZAMIL) to acquire ZAMIL's certain assets relating to manufacturing of Home Air conditioning systems.
Subros Limited is in the process to enter into definitive agreements in this regard. Through this initiative, Subros Limited will create a capacity of 500,000 units per year and also expand its supply of Home Air Conditioning units to various OEM's. The transaction is subject to customary closing events and is expected to be completed during April 2019.