Amber Enterprises Limited announced it has acquired 60% stake in Parvartaka Tooling Services Private Limited from Pioneer Tooling Services.
“This is to inform you that the Company has entered into the definitive agreements with Pravartaka Tooling Services Private Limited (“Pravartaka”) and acquired 60% stake in the equity share capital of Pravartaka, which is engage in the business of injection mould tool manufacturing and injection moulding components manufacturing for various industries (Business),” according to the company’s exchange filing.
“The Business is being acquired by Pravartaka from Pioneer Tooling Services (“Pioneer”) one of the leading injection moulding tool maker and injection moulding components maker for consumer durable, automotive and electronics industry on slump sale basis in the financial year 2021-22,” the company said.
“This acquisition will help our Company i.e. Amber Enterprises India Limited to have inhouse capability of injection molding tools manufacturing and grow its component segment with focus on providing more diversified solution of Injection molding component for industries such as automotive, electronics & consumer durable,” the company adds.
Pravartaka Tooling Services Private Limited (“Pravartaka”), a company engaged in the business of injection mould tool manufacturing and injection moulding components manufacturing for various industries (“Business”). The Business is being acquired by Pravartaka from Pioneer Tooling Services (“Pioneer”) one of the leading injection moulding tool maker and injection moulding components maker for consumer durable, automotive and electronics industry on slump sale basis in the financial year 2021-22, the statement said.
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