Autoline Industries sells property in Pimpri
DSIJ Intelligence / 07 Aug 2017
Autoline Industries on Friday has informed that in order to achieve operational efficiency, cost reduction and debt reduction, the company is going to consolidate one of its manufacturing facilities situated at MIDC, Pimpri with its Chakan units in Pune.
Autoline Industries on Friday has informed that in order to achieve operational efficiency, cost reduction and debt reduction, the company is going to consolidate one of its manufacturing facilities situated at MIDC, Pimpri with its Chakan units in Pune.
The company entered into a MoU on August 3, 2017 with a prospective buyer to transfer the said land and buildings thereon. The company will utilise the sale proceeds to settle its debts and reduce the overall debt exposure of the company.
The company believes that the consolidation of facilities will accrue substantial operational efficiency, cost savings, and smoothen supply chain management by utilising the available resources in its Chakan unit.
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