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PNN
New Delhi [India], October 9: In a strategic move, Hercules Hoists Limited (HHL) has undergone a significant transformation, resulting in the formation of two independent entities: HHL and Indef Manufacturing Limited (IML). As of October 1, 2024, this demerger marks a pivotal moment for both organizations, enabling them to focus on their core strengths and expand their operational capabilities in the material handling industry. Under this new structure, HHL will operate as an unregistered Core Investment Company (CIC) in compliance with the Reserve Bank of India's CIC Regulations, 2020. The company will concentrate on investment management across both listed and unlisted companies within the group, thereby facilitating strategic growth and enhancing its overall portfolio. On the other hand, IML will assume responsibility for all manufacturing operations, proudly carrying forward the legacy of the renowned Bajaj Indef brand. Known for its high-quality material handling equipment--including mechanical hoists, electric chain hoists, wire rope hoists, cranes and storage & retrieval solutions--IML is poised to strengthen its leadership position in the market. With the establishment of IML, the management of manufacturing, sales, distribution, and marketing of material handling equipment will now rest solely with this new entity. The demerger signifies not only a structural change but also a commitment to maintaining the high standards of quality and reliability that customers have come to expect. Customers will continue to work with the same dedicated team that has always supported them, ensuring seamless service throughout this transition. This strategic decision allows both HHL and IML to harness their unique strengths effectively. HHL will focus on driving growth and expansion through its investment portfolio, while IML will continue to innovate and deliver exceptional material handling solutions. In line with this transition, Amit Bhalla has been appointed as the Managing Director of Indef Manufacturing Limited. Having served as President & CEO of Hercules Hoists Limited, Amit Bhalla expresses his excitement for this new chapter and the opportunity to lead IML. "This strategic move empowers us to take the legacy of Bajaj Indef to new heights, with a clear vision to enhance our leadership in the material handling industry," says Amit Bhalla. As HHL and IML embark on this journey, both entities are well-positioned to deliver greater value to customers and stakeholders alike. This demerger not only represents a significant strategic shift but also reaffirms the commitment to quality, service, and innovation that both organizations hold dear. As they navigate this new chapter, Bajaj Indef remains dedicated to fostering strong relationships with their customers and partners. They appreciate the trust and partnership, looking forward to a future filled with opportunities and growth. (ADVERTORIAL DISCLAIMER: The above press release has been provided by PNN. ANI will not be responsible in any way for the content of the same)
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