Everest Kanto Cylinder sets up fully-owned subsidary in Dubai

Mumbai, Mar 28 (UNI) Everest Kanto Cylinder Ltd has established a separate wholly-owned subsidiary in Dubai at an investment of .5 million.

Informing the BSE, the company said the plant will be functional by August and is located in Jebel Ali free zone. With the new plant in place spread across 20,000 sq meter, the capacity at Dubai will be doubled from 1 lakh to 2 lakh cylinders. It already has a plant in Dubai.

The Company is also a major exporter of CNG cylinders to Thailand, Malaysia, Bangladesh, Iran, Pakistan and neighbouring Middle East countries. In the domestic market, the Company is a supplier of CNG cylinders to large OEMs like Bajaj Auto, Tata Motors, Ashok Leyland, Swaraj Mazda and Hindustan Motors in the automobile segment.

Currently, it has manufacturing units in Tarapur, Gandhidham, Dubai and Aurangabad with an aggregate capacity to produce 7,06,000 units per annum.

UNI SN KU SKB1627