CG Power and Industrial Solutions Limited, previously known as Crompton Greaves Limited has opened a new manufacturing facility for LV motors in Ahmednagar, Maharashtra.
The facility is spread in an area of 4,200 Sq.m. and will be manufacturing LV motors ranging 75 KW to 1000 KW. The above information was shared in an exchange filing by the company on 23rd December 2020.
CG Power and Industrial Solutions Limited was recently acquired in November 2020 by Tube Investments of India Limited (A Murugappa Group Company) after the former was hit by a INR 700 Crore scam. CG Power’s entire board including non-executive chairman Ashish Guha and whole-time executive director Sudhir Mathur had resigned after this acquisition.