Craftsman allots INR 3.75 billion for 76% share in car component maker DR Axion

Craftsman Automation Ltd., a leading aluminium components producer from India, has declared an investment of INR 3.75 billion to purchase a 76% share in DR Axion India Pvt, another aluminium automotive parts-making firm in Tamil Nadu. This was revealed in an exchange filling, and it is estimated the move will yield positive results.

Craftsman technically excels in producing high-pressure die castings, low-pressure die castings, gravity die castings and aluminium sand castings for its customer base. The company gives complete assurance of specially formulating each die-casted component into a ready-for-assembly item.

Craftsman Automation also is an expert in developing precisely engineered lightweight aluminium components for the automotive industry or the construction sector. 

DR Axion is also a car components manufacturer from the Indian state of Tamil Nadu. The company specialises in producing aluminium cylinder heads, a crucial vehicular part used as the engine’s outer shell in commercial, passenger-carrying automobiles.

As Craftsman claims, this deal would significantly aid both businesses to fully utilise each other’s expertise and trim the usual expenses.

By the month of March this year, all the transactional activities, as calculated, will be complete, through which DR Axion will officially become a part of Craftsman. The organisation yielded a turnover of INR 7.16 billion from April 2021 to March 2022.