Pennar to acquire France-based aerospace machining company Cadnum SARL

19 Jul 2022 , 01:34 AM

Pennar Industries announced that its wholly owned subsidiary Pennar Gmbh Germany has entered into share purchase agreement with Serge DUMAS on 13 July 2022 to acquire 100Percentage equity in Cadnum SARL Cadnum is an engineering precision machining company which was established in 1988 The facility is based out of Villebret France The acquisition will help Pennar in entry into aerospace OEM supply The transaction involves a cash consideration of 180000 Euros approx Rs 16 crore