15 hours Ago
Craftsman Automation Ltd , a leading manufacturer of automotive and industrial components, has announced plans to establish a new factory at SIPCOT Industrial Park, Shoolagiri, Hosur , with an investment of about ₹150 crore. The company’s board approved the project on Wednesday, aiming to expand its aluminium products capacity in southern India, where key two-wheeler and passenger car OEMs (Original Equipment Manufacturers) are located. Craftsman Automation stated that its existing facilities in the region are operating at nearly full capacity, necessitating additional manufacturing infrastructure to meet growing demand.
The new facility is expected to enhance production capacity by 15% over the next 9 to 12 months. Currently, the company’s plants are running at about 75% utilisation, and the new unit will help optimise production efficiency while remaining within 100-150 km of major OEMs. The ₹150 crore expansion will be financed primarily through term loans (90%), with the remaining funds sourced from internal accruals, the company informed stock exchanges.
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