LMW, which is one among the top three in the world to produce the entire range of spinning machinery, has sought to amend the object clause of the Memorandum of Association. The company had earlier diversified into CNC machine tools, foundry and manufacturing components for the aerospace industry. LMW’s decision is not surprising. CMD Sanjay Jayavarthanavelu, in the latest annual report highlighted the upcoming opportunities. The steady realisation of global supply chain diversification opportunities, along with free trade agreements with key global partners, is reinforcing India’s position as a competitive and reliable global manufacturing hub. These structural tailwinds are creating a broad-based expansion of opportunities across sectors, providing a favourable environment for growth across our business divisions, he had pointed out.
