Sunita Defence Inc USA has acquired 51% ownership in New Mold Innovations LLC

Sunita Tools Limited ("the Company") is pleased to announce that its Wholly Owned Subsidiary (100%) "Sunita Defence Inc" USA Company has acquired 51% ownership in New Mold Innovations LLC, a USA based Specialty Grease, Mold and Manufacturing company based in Kentucky, USA.

This Subsidiary is headed by Mr. Abheshek Satish Pandey. Mr. Abheshek is a Aerospace, Space and Astronautics Engineer from UK and he went further to do his Masters from USA in Management Information Systems / Business Analytics, His qualifications and work experience are a perfect fit to present the company and its products to the Major USA Companies.

The acquired manufacturing unit, New Mold Innovations LLC, is based in Kentucky, USA and is a fully operational factory run by a highly qualified professional in this field, Mr. Randal Alexander, Owner and President. The company has a good database of Aerospace, Automation, Capital Goods, Machinery and Mold manufacturing customers which can be a future connect for all future acquisitions in the fields of Aerospace and Engineering.

It has installed capacity to make 47 lacs cartridges of grease which sells at USD 3.2 each.

The total cost of acquisition is USD 4,19,000/- (USD 419,000), payable in two equal tranches of USD 2,09,500/- each - the first at Closing and the second upon commencement of production. Following the Closing, net profits will be distributed on a 75:25 basis in favour of Sunita Defence Inc until a cumulative preferred return of USD 3,44,000/- is recovered, after which distributions will revert to the standard ownership ratio of 51:49.

Payments for the acquisition have been initiated. The first tranche remittance of INR 1,44,55,500/- (equivalent to USD 1,50,000/- approximately) has been remitted to Sunita Defence Inc. The balance payment will be done by end of May, 2026.

Commenting on this development, Mr. Sanjay Pandey, Chairman & Whole Time Director of Sunita Tools Limited said: "We are pleased to announce that our Wholly Owned Subsidiary (100%) "Sunita Defence Inc" USA Company has acquired 51% ownership in a USA based, Grease (Aerospace, Automation, Specialised) Manufacturing company which falls in line and vision of Sunita Tools becoming a international defence & Aerospace products mfg company, With Abheshek and our partner we have a highly qualified and able leaders to head the operations of that subsidiary and we are sure with our vision and thier talent and hard work we will be able to succeed in the USA and North American Markets. This Company has a database of companies in filed of Aerospace, Capital Goods, Machinery, Defence, Agriculture, Engineering and this will establish us very rapidly in the USA markets in the fields we wish to grow in and encash on our strengths. With a committed payback period by the present owner it's a safe investment to kick start our USA venture."

Shares of Sunita Tools Limited was last trading in BSE at Rs. 872.00 as compared to the previous close of Rs. 879.25. The total number of shares traded during the day was 16875 in over 103 trades.

The stock hit an intraday high of Rs. 885.00 and intraday low of 860.00. The net turnover during the day was Rs. 14660700.00.

Source : Equity Bulls

Keywords

SunitaTools INE0Q1S01010 IndustrialProducts SunitaDefenceInc Acquisition NewMoldInnovationsLLC