Suprajit Engineering signs MOU with Michang Cables Korea

Suprajit Engineering Ltd has announced the following:

- MoU signed with Michang Cables Korea - a well-known cable, shifter and gas spring manufacturer for long-term logistics and co-operative manufacturing programme.

- 100% owned subsidiary - Gills Cables UK has undergone successful restructuring through a redundancy programme in the UK, inline with original plan. Gills now operates as a technology centre for the Company's Global operates.

- The new plant at Pantnagar, Uttaranchal for cables is expected to start commercial production by April 2007.

- Land acquisition is underway for Haridwar, Uttaranchal plant.

- The Company has transformed into a well diversified cable manufacture with 51% revenue in 2-wheelers segment and 42% revenues in automotive sector.

Source : Equity Bulls

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