Mahindra CIE Automotive acquires Aurangabad Electricals for ₹830 crore

Share This Post

utomotive components supplier Mahindra CIE Automotive Ltd has acquired Aurangabad Electricals Ltd (AEL), an aluminium die casting firm, for 830 crore, Mahindra CIE said in an exchange filing on Tuesday.

Founded in 1985, Aurangabad Electricals Ltd is a leading manufacturer of automotive aluminium die casting products based in Aurangabad, India. The company, which has five manufacturing facilities including those at Aurangabad, Pune and Pantnagar, is promoted by the Bagla Group and led by Rishi Bagla. It has over 3,300 employees, sales of Rs 850 crore.

Mahindra says AEL is a key supplier to a number of domestic and global two-wheeler and passenger car OEMs and Tier 1 companies. It manufactures a variety of body, brake and engine parts through high-pressure die casting as well as gravity die casting processes. The company also has capabilities for machining, heat treatment, powder coating, assembly and leak testing, along with a modern tool room.
Aluminium die casting is a process used to make smooth, defined metal parts by forcing them into a mold. The acquisition will help Mahindra CIE foray into the aluminium die casting space, as well as strengthening its presence in the two-wheeler segment. The acquisition is expected to be completed by 10 April.

Commenting on the acquisition, Rishi Bagla, Chairman & MD, AEL said, “We are convinced that the partnership with MCIE and CIE will give the company a great boost and allow AEL to benefit from global best practices in aluminum die casting. With the proceeds of the transaction, the Bagla group will further develop its industrial activities and businesses.


Related Posts

Aurangabad to host first inception meet of W20 India as a part of India’s G20 Presidency on Feb 13, 2023

W20 India will strive to take forward the Honourable Prime Minister’s vision of India's G-20 presidency to be inclusive, ambitious, decisive, and action-oriented. Four large world class events with international delegates will be held showcasing India’s rich culture and heritage. Classical dance, handloom and handicraft mela with nano entrepreneurs and local cuisine. The 1st inception meet will be in Aurangabad on 13-15 February 2023.

एमजीएम खगोल अंतराळ विज्ञान केंद्रातर्फ जेम्स वेब अंतराळ दुर्बीण खगोल महोत्सवाची सुरुवात

औरंगाबादेत जेम्स वेब स्पेस टेलीस्कोप मिररची देशातील एकमेव प्रतिकृती. आज...

औरंगाबादला पावसाने झोडपले; तासभर ढगफुटी सदृश्य पावसाचे तुफान

औरंगाबाद शहराला ढगफुटी पावसाने झोडपले, शहरातील सखल भागात मोठ्या...

औरंगाबाद विमानतळ: सलग तीन वर्षे देशातील गटातील सर्वाधिक तोटा असणाऱ्या विमानतळाच्या यादीत

औरंगाबाद विमानतळ: सलग तीन वर्षे देशातील गटातील सर्वाधिक तोटा...

स्मार्ट औरंगाबादसाठी मिळणार अतिरिक्त ₹1000 कोटी; १५व्या वित्त आयोगाच्या शिफारसीमध्ये भारतातील ८ शहरात मिळवले स्थान

केंद्र सरकारच्या महत्वाकांक्षी प्रकल्प असलेल्या स्मार्ट सिटी मिशनच्या पुढील...
- Advertisement -spot_img