MTAR Tech to acquire aerospace defence MSMEMTARTECH - 1635 Change: 40.15 (2.52 %)
News: MTAR Technologies plans to acquire Gee Pee Aerospace & Defence, an MSME, for |8.82 crore. Gee Pee is in the business of manufacturing CNG machined components for the Aviation, Space, Defence and General Engineering industries.
Views: MTAR has offered a sum of | 8.82 crores which is roughly 5.3x sales of Gee Pee in FY21 (1.67 crores). This will be beneficial for MTAR as it will provide benefits under MSME category and also strengthen the capacities in bottleneck areas, which is expected to fuel the revenue growth in defence and allied sectors. Product list of Gee Pee include of Mounting Bracket, Side Frmae Bottom, Valve Block, Regging Adapter, Shackle Body, Air frame for missiles etc.