Raymond acquires majority stake in Maini Precision Products for $81.9 million
MPPL manufactures precision engineering products for aerospace, EV and defense sectors with 11 manufacturing facilities in India
Raymond Group has acquired a 59.25% stake in Maini Precision Products Ltd. (MPPL) for $81.9 million, Mint reported Nov. 3. The acquisition will diversify Raymond's business portfolio beyond its core fabric and realty segments and open up new opportunities in rapidly growing sectors such as electric vehicles (EVs).
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