The existing manufacturing facility at Gowribidanur is also being expanded by another 150000 sq. ft. area for manufacturing Transit Mixers of capacity from 6 cum to 10 cum. The total area for this facility is 20 acres. This facility will now have the capacity to roll out 300 batching plants and 1000 transit mixers per annum, that can be rapidly scaled up to 1000nos. and 3000 nos. respectively. The expansion work is already in progress and will be fully operational by end of 2018.

Ajax Fiori is among the top two manufacturers of concreting equipment and had a consistent growth of 40% in the last few years. The Bangalore plant currently employees 375 people and with this new facility it is expected to generate additional employment of 250 in the future.

Speaking at the occasion, Jagdish Bhat, CEO, AJAX Fiori stated, "Over the last 25 years, Ajax Fiori has brought innovative and cost-effective solutions to the construction industry. We see exceptional opportunities as the economy strengthens in the near to midterm and infrastructure environment continues to evolve for construction equipment manufacturer like Ajax Fiori. Apart from our product range expansion, we have increased our distribution network and have over 80 touch points pan India. This new facility will help us add capacity and enhance our product portfolio to serve our customer needs in future. This new facility not only supports our commitment to India's economy, but it also presents a significant opportunity for our strong growth in India. Having foreseen the product's suitability across various applications and the increased demand across geographies, Ajax Fiori has ambitions to create a significant presence beyond Indian shores in the coming years."

(Continued on the next page)