Biznextindia : Leading auto and non-auto component manufacturer Omax Autos has closed its manufacturing unit located at Bamsandra, Bangaluru with effect from 15th March. The company has also retrenched all its staffs working in the plant.
In a communication to the stock exchanges, Omax Autos has said that it has sold the manufacturing facility to Bangaluru headquartered Minox Metal (Pvt) Ltd at Rs.56 crore.
Spread over an area of 6 acres, the company’s Bangalore facility was specialized in Manufacturing of Precision machining components like Axle & Steering shafts, Sheet Metal Stamping & welding process, Tubular bending & Welding process and various surface treatments like powder coating, painting, plating etc.