<div>CMI Limited, a BSE listed leading specialty cable manufacturing company, on Wednesday (16 September) announced the acquisition of the fully developed manufacturing facility of Danish company FL Smidth at Bawal, Haryana.</div><div> </div><div>Spread over 11235 sq. yards with built up area of 67000 sq. ft, the facility is located in the Industrial area of IMT, Bawal and has all the necessary clearances and facilities for Industrial production.</div><div> </div><div>CMI Ltd. is investing Rs 20 crore on the acquisition and setting up of the facility at Bawal. This investment is expected to significantly augment the production capacity of the company. The company intends to start production in the new facility within this financial year.</div><div> </div><div>Commenting on the developments Amit Jain, Managing Director, CMI Ltd. said, “This is a new phase in the history of CMI. We are very bullish on the sector and are targeting a CAGR of 40 per cent going forward for the next 3-5 years. The acquisition is a step in that direction and will help CMI enhance its Production Capacity in order to achieve the desired growth”.</div><div> </div><div>The clientele of CMI includes the who’s who of the industry. CMI manufactures a wide variety of specialty cables for infrastructure, Railways, Oil & Refinery industries, Engineering Companies, EPCC contractors, and the like.</div><div> </div><div>CMI Limited is a leading specialty cables manufacturing company. CMI Limited is listed on BSE (BSE Code: 517330) and closed the year 2014-15 with revenues of Rs. 137.28 Cr.</div><div> </div><div>CMI Limited, incorporated in 1967, is today a well known and reputed supplier of specialty cables to the who’s who of the industry. The focus in the organization is on latest technologies leading to new product development.</div><div> </div><div> </div>
