Consolidates its manufacturing facility in Pimpri with its Chakan unit
Autoline Industries announced that currently it is operating through its 9 manufacturing facilities spread across India along with in-house Design & Style Centre.In continuation of Company's initiatives to achieve the operational efficiency, cost reduction and to reduce the debt, the Company has taken one more major step by way of consolidating one of its manufacturing facility situated at F-II, 24/25, MIDC, Pimpri, Pune to its Chakan Units, Pune.
The Company has entered into Memorandum of Understanding (MOU) on 03 August 2017 with the prospective buyer to transfer the said land and buildings thereon ('immovable property'). The Company will utilize the sale proceeds to settle the debt that has a charge on the above said immovable property and reduce overall debt exposure of the Company.
The Company believes that the consolidation of facilities will accrue substantial operational efficiency, cost savings, and smoothening of supply chain management by utilizing the available resources in Chakan Unit.
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