CIE Automotive India approves merger with aluminium casting subsidiary
CIE Automotive India Ltd approved merging its full subsidiary, CIE Aluminium Casting India Ltd. This pulls all aluminium casting under the main company.
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The board cleared the scheme of amalgamation in line with the Companies Act and SEBI regulations. As the subsidiary is fully owned, no new shares will be issued, and its share capital will be cancelled upon completion of the merger.
The company said the move is expected to improve operational efficiency and reduce structural complexity. It may also help achieve economies of scale and better coordination across operations, particularly in the aluminium casting business.
The merger awaits approvals from regulators and the National Company Law Tribunal. No stock exchange nod needed, since it is a wholly owned subsidiary.
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CIE Automotive India makes automotive parts for vehicle makers. It handles metal forming and aluminium casting for Indian and global clients. Integrated plants in India strengthen its supply chain and output.
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