Pennar Industries announced that its wholly owned subsidiary, Pennar Gmbh, Germany has entered into share purchase agreement with Serge DUMAS on 13 July 2022 to acquire 100% equity in Cadnum SARL.
Cadnum is an engineering & precision machining company which was established in 1988. The facility is based out of Villebret, France. The acquisition will help Pennar in entry into aerospace OEM supply.
The transaction involves a cash consideration of 1,80,000 Euros (approx. Rs 1.6 crore).
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