Pennar Industries, manufacturer of auto components and pressed steel
products, plans expansion by foraying into verticals like energy and precision
engineering through inorganic growth.
The company is looking for acquisitions in the precision engineering segment
to cater to customers in defence, nuclear energy and railways. The acquisitions
are likely to be ranged between Rs 20 and Rs 100 crore in each segment.
The company also plans to expand its manufacturing facilities located at
Chennai and Isnapur (Andhra Pradesh) by end-fiscal at an investment of around Rs
30 crore in each plant.