CMI Ltd. is investing INR 200 million on the acquisition and setting up of the facility
CMI Limited, the leading BSE listed specialty cable manufacturing company, recently announced the acquisition of the fully developed manufacturing facility of Danish company FL Smidth at Bawal, Haryana. Spread over 11235 sq. yards with built up area of 67000 sq. ft, the facility is located in the industrial area of IMT, Bawal and has all the necessary clearances and facilities for Industrial production.
CMI Ltd. is investing INR 200 million on the acquisition and setting up of the facility at Bawal. This investment is expected to significantly augment the production capacity of the company. The company intends to start production in the new facility within this financial year.
Commenting on the developments Mr. Amit Jain, Managing Director, CMI Ltd. said, “This is a new phase in the history of CMI. We are very bullish on the sector and are targeting a CAGR of 40 percent going forward for the next 3-5 years. The acquisition is a step in that direction and will help CMI enhance its Production Capacity in order to achieve the desired growth”.
The clientele of CMI includes the who’s who of the industry. CMI manufactures a wide variety of specialty cables for infrastructure, Railways, Oil & Refinery industries, Engineering Companies, EPCC contractors, and the like.
CMI Limited, incorporated in 1967, is today a well known and reputed supplier of specialty cables to the who’s who of the industry. The focus in the organization is on latest technologies leading to new product development. CMI manufactures a wide variety of specialty cables including Railway Quad cables, Signaling cables, Ballise cable for Train protection & warning system, Fire survival cables, etc.