CMI FPE in jubilant mood on doubling production capacity at Taloja plant

CMI FPE is currently trading at Rs. 702.90, up by 28.40 points or 4.21% from its previous closing of Rs. 674.50 on the BSE.

The scrip opened at Rs. 680.00 and has touched a high and low of Rs. 703.50 and Rs. 680.00 respectively. So far 107 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 1304.70 on 13-Jul-2011 and a 52 week low of Rs. 600.00 on 23-May-2012.

Last one week high and low of the scrip stood at Rs. 703.50 and Rs. 640.05 respectively. The current market cap of the company is Rs. 347.35 crore.

The promoters holding in the company stood at 75.00% while Institutions and Non-Institutions held 0.03% and 24.97% respectively.

CMI FPE, one of CMI Industry's Indian subsidiaries, has unveiled the new layout of its Taloja facility located in Maharashtra. The expansion by the company doubles the production capacities of this plant, henceforth known as CMI Center of Excellence for Cold Rolling Mills Manufacturing. With such a state-of-the-art infrastructure, the company is now perfectly armed to meet the needs of the Iron and Steel industry.

The expansion of Taloja facility consists of the construction of new sheds, the extension of existing ones, the installation of new machining capacities as well as the implementation of a new, optimized production flow. It doubles the production capacity of the plant, which is now able to house, the assembly of up to 10 cold rolling mills or even two 5-stand tandem rolling mills at the same time.

The construction of the CMI Center of Excellence for Cold Rolling Mills Manufacturing started in May 2011 and the new facilities were inaugurated in May 2012. Along with this inauguration, CMI FPE also celebrated the groundbreaking ceremony of a new plot of land it recently acquired in Hedavali near Khopoli for its future needs.

The principal activities of the company comprise of manufacturing and installation of cold rolling mills complexes, processing lines, chemical processes, thermal processes and automation equipments for ferrous and non-ferrous industries worldwide. The company, over a period of time, has acquired a global leadership position in the design, manufacture, erection and commissioning of Cold Rolling Mill Complexes and Auxiliary Equipments for the Cold Rolling Industry and the Metal Processing Industry.