Pavna Industries Ltd, a leading automotive parts manufacturer in India, has announced the successful acquisition of a 4,335 square meter industrial land parcel in Pantnagar, Uttarakhand. The newly acquired land will be used for the company's upcoming greenfield plant, which will primarily focus on meeting the demand for die cast components, and reduce operating costs.
"This acquisition signifies our move to our own premises in Uttarakhand, transitioning from our current rented facility. The plant, which will be nestled within Pantnagar's thriving industrial ecosystem, will enable us to provide superior service, particularly to Bajaj Auto, and aligns with our long-term goal of offering better prices to our customers," said Swapnil Jain, Managing Director of Pavna Industries Ltd.
Pantnagar has gradually become a notable hub for the automotive industry. Pavna Industries plans to attract business from various original equipment manufacturers (OEMs) in and around Pantnagar.
Earlier this year, Pavna Industries secured an order from Ola Electric for the supply of ignition switches and latches and launched its products in Bangladesh. The company currently operates nine facilities across three locations - Aligarh, Aurangabad, and Pantnagar - and has a strategically located distribution network in 17 states.