Windsor Machines hit an upper circuit of 10% at Rs 253.45 after the company has entered into a share purchase agreement (SPA) to acquire 100% stake in Global CNC for total consideration of Rs 343.11 crore.
Global CNC (GNCPL) a renowned Rajkot (Gujarat) based company, engaged in the manufacturing of computer numerical controlled (CNC) machines for automating precision engineering of machine tools. It had total revenue of Rs 162 crore for FY24.The company's objective of acquiring GCPL is to expand its capacity to supply a wider range of machines to customers under one roof.
GCPL's expertise in CNC turning machines, vertical machining centers (VMC), and special purpose machines (SPM) complements Windsors existing portfolio, enhancing its offerings to industries such as automotive, general engineering, agriculture, medical, oil & gas, and railways.
Vinay Bansod, executive director and CEO, Windsor Machines, said, GCPLs innovative approach to CNC automation, coupled with their impressive client base, presents significant opportunities for expansion and synergy. This acquisition strengthens our position as a comprehensive solutions provider, bolstering our presence in India and abroad."
Dharmendra Varsada, Director, GCPL, said, We are excited to join forces with Windsor, leveraging their expertise and resources to propel GCPLs growth, This partnership will enable us to expand our product offerings, enhance our R&D capabilities, and tap into new markets, while maintaining our commitment to quality and customer satisfaction.
Windsor Machine is a leading manufacturer of injection moulding machines, pipe extrusion, and blown film extrusion solutions, catering to various industries. With a strong presence in India and exports to Africa and other countries, it continues to innovate and expand its offerings.
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