Pennar to acquire France-based aerospace machining company Cadnum SARL

14 Jul 2022 , 03:51 PM

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 100% 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 1,80,000 Euros (approx. Rs 1.6 crore). Powered by Capital Market – Live News