CMI acquires FLSmidth's manufacturing facility in Haryana

Speciality cables manufacturer CMI today said it has acquired Danish firm FLSmidth's fully developed manufacturing facility in Haryana.
The company will be investing Rs 20 crore for acquiring the facility as well as ramping up the capacity.
"This investment is expected to significantly augment the production capacity of the company. We intend to start production in the new facility within this financial year," the company's Managing Director Amit Jain said in a statement.
The facility is located in the industrial area of Bawal and has all necessary clearances and facilities for industrial production, he added.
He further said the company is bullish on the sector and is targeting a CAGR of 40 per cent, going forward, for the next three-five years.

"The acquisition is a step in that direction and will help CMI enhance its production capacity in order to achieve the desired growth," Jain said.
The company currently has a manufacturing facility in Maharashtra where it manufactures a wide variety of speciality cables including railway quad cables, signalling cables, ballise cables for train protection and warning system, among others.