Aerpace Industries Limited to lease space for R&D center, forms aerPower

Aerpace Industries Limited (Formerly known as Supremex Shine Steels Limited) has announced an important update regarding its business operations. The company had previously announced the leasing of a 2,25,000 Sqft plot area in the Pune region for the construction of its R&D center. To optimize the resources and expedite the process, the company has decided to lease a 180,000 sq. ft. ready-to-move property instead. This new location includes a 100,000 sq. ft. ready-to-move constructed shed area and an additional 80,000 sq. ft. of open space for testing and other utility purposes. This facility will house the advanced DT Mill Milling machine ordered from Wenzel DesignTec Inc, Germany, which will be used for clay modelling of cars and drones pushing the project to the next milestone.

In addition to this, the company also announced the establishment of a new solar panel manufacturing & assembly factory, named aerPower. The company have signed a contract for the purchase of a 400 MW capacity fully automatic solar panel manufacturing & assembly line from Zhonghao (Wuxi) International Trade Co. Ltd. This acquisition aligns with our strategy of vertical integration, enhancing our ability to deliver comprehensive products and services, and supporting the swift execution of our project vision.

The introduction of the aerPower factory will not only bolster our project timeline but also enable us to generate substantial cash flows. By producing solar panels for both domestic and international markets, we are taking a significant step towards completion of our vision to create a sustainable future.

We anticipate the delivery and installation of the solar panel assembly line equipment to be completed by December 2024. Production at the aerPower factory is expected to commence in January 2025. This development will provide a strong foundation for generating revenue and will significantly enhance the speed of our initiatives towards building a sustainable and futuristic transportation ecosystem.

Shares of Supremex Shine Steels Ltd was last trading in BSE at Rs. 43.12 as compared to the previous close of Rs. 43.99. The total number of shares traded during the day was 135547 in over 400 trades.

The stock hit an intraday high of Rs. 43.12 and intraday low of 43.12. The net turnover during the day was Rs. 5844786.00.

Source : Equity Bulls

Keywords

AerpaceIndustries INE175N01023 BusinessUpdate RandDCenter aerPower SolarPanel Manufacturing Assembly