Pitti Laminations Limited on Course to be Pitti Engineering Limited(16:14 Hrs. IST)
HYDERABAD, India, April 16, 2018 /PRNewswire/ --
- Reflects the evolution and the future strategy to enhance the product portfolio and its emergence as an integrated engineering solutions provider -
Pitti Laminations Limited (BSE: 513519) (NSE: PITTILAM), the Hyderabad-headquartered manufacturer of stator & rotor core assemblies, die cast rotors & assemblies, traction motors, casting & high precision machine components, pole assemblies, specialized electrical steel laminations, etc., announced that its shareholders have approved the change in name of the company to 'Pitti Engineering Limited '. Mr. Sharad B. Pitti, Chairman & Managing Director explained that the new name would reflect the company's evolution over the past few years and the future focus.
The name change, approved and passed by the shareholders at the EGM held on April 11, 2018, will be effective on receipt of fresh certificate from the Registrar of Companies, Hyderabad. This change corresponds to the significant and evolving growth in the product portfolio of Pitti, thereby moving up the product value chain and being able to offer integrated solutions to its customers. Over the past few years, the company has made a conscious effort at the products and services development level to become a preferred turnkey supplier of a range of products to MNCs. The company is the market leader in its segment in India and is the only integrated player in this space in Asia.
Pitti manufactures stator & rotor core assemblies, die cast rotors & assemblies, traction motors, casting & high precision machine components, pole assemblies, specialized electrical steel laminations, etc. and provides machining of various metal components for multiple applications. Pitti caters to the industries like transportation (rail, road and off-highway), power generation, aerospace, oil & gas, mining, earth moving and others. The company supplies the full assemblies and sub-assemblies right from casting, high precision machining, laminations to fabrication, etc. The company has been manufacturing special purpose laminations and stampings for all types of rotating electrical machinery, motor cores, sub-assemblies, die cast rotors and press tools.
The company is a key and critical supplier to its customers which are mostly the Fortune 200 MNCs like GE, Alstom, Siemens, ABB, Cummins, etc. The company has three manufacturing facilities with four integrated business verticals including tool room and employs about 1,700 professionals and workmen directly and indirectly.
Elaborating on the name change, Shri Sharad B. Pitti said, "The change in name of the company is to reflect our much enhanced capabilities, development of new products encompassing the entire engineering value chain and the added capacities to serve the existing and the new customers. Pitti has now emerged as the only integrated engineering solutions provider in its space in Asia. We are confident that all our stakeholders would be pleased with this change."
Mr. Akshay S. Pitti, Vice-Chairman & Managing Director, said, "The Company's offerings have evolved, based on its core business, strongly rooted research and industry led innovation. The name change was planned to align with the advancement in our skills and capabilities to cater to a varied range of basic engineering products for developing an integrated supply chain for our customers."
To find out more, please visit their website: www.pitti.in.
About Pitti Engineering Limited:
Pitti Laminations Limited is a Hyderabad headquartered company, established in the year 1983 and engaged in the manufacturing stator & rotor core assemblies, die cast rotors & assemblies, traction motors, casting & high precision machine components, pole assemblies, specialized electrical steel laminations and stampings, etc. The Company caters to the needs of the power generation, transportation, industrial motors, locomotives, aerospace, automobile, earth moving and mining, oil and gas and infrastructure industries.
Disclaimer: The name change will become effective on receipt of fresh certificate consequent to change in name, from the Registrar of Companies, Hyderabad. This press release contains "forward- looking statements" that is, statements related to future, not past, events. In this context, forward-looking statements often address our expected future business and financial performance, and often contain words such as "expects," "anticipates," "intends," "plans," "believes," "seeks," "should" or "will". Forward-looking statements by their nature address matters that are to different degrees, uncertain. For us, uncertainties arise from the behavior of financial Industry, from future integration of businesses; and from numerous other matters of national, regional and global scale, including those of a political, economic, business, competitive or regulatory nature. These uncertainties may cause our actual future results to be materially different from those expressed in our forward-looking statements. We do not undertake to update our forward-looking statements.
Concept Public Relations India Limited
Concept Public Relations India Limited
N K Khandelwal
Pitti Engineering Limited