Craftsman Automation Ltd, on Wednesday, January 29, announced plans to establish a new manufacturing facility in Hosur, Tamil Nadu. The project, estimated to cost 150 INR-Crore, aims to expand the company’s capacity for aluminum products. The factory will be located at the SIPCOT Industrial Park in Shoolagiri, Hosur.
The upcoming facility is expected to boost production capacity by 15%, catering to the growing demand from major Original Equipment Manufacturers (OEMs) in Southern India’s automotive hub. Furthermore, Craftsman Automation Ltd plans to finance the project primarily through term loans, covering 90% of the cost, with the remainder funded through internal accruals.
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Craftsman Automation Ltd aims to complete the project within 9-12 months, enhancing its competitive position in the automotive components sector. The strategic location of the new plant will enable the company to better serve its customers in the region.
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