DriveSys Systems Private limited, a wholly owned subsidiary of the Company has entered into two separate agreements with M/s. Om Tejshree Enterprises and M/s. Microtech Industries for acquiring ....
ZFSTEERING · price
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ZF Steering Gear India's wholly owned subsidiary DriveSys Systems has signed two sub-lease agreements for adjacent factory plots in MIDC, Ahilyanagar, Maharashtra (totaling ~2,778 sq. meters of land and ~1,157 sq. meters of built-up area). The premises will be used to set up manufacturing facilities for the subsidiary's new Electrical Division, focused on Electric Equipments' Components. Both leases are for 15 years each, and commercial operations are expected to start in Q4 of FY 2025-26. The move aligns with the subsidiary's announced new line of business and future growth plans. No promoter or director has any interest in the transaction.
This signals a strategic expansion into a new business vertical (electric equipment components) for the subsidiary, which could open a fresh revenue stream for shareholders. However, the financial impact is not yet quantifiable as the capex outlay and revenue potential are not disclosed.