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Bengaluru-based Hind High Vacuum Co. Pvt. Ltd. (HHV), a thin film and vacuum technology company, has announced a demerger plan to create a simplified corporate structure.
The revised structure will have two separate entities for vacuum systems and thin film-focused businesses respectively. This restructuring aims to unlock growth potential of each of its businesses, the company said in a statement.
The Regional Director, South-Eastern Region, Ministry of Corporate Affairs, Hyderabad has approved the demerger of the Vacuum Systems business into HHV Thermal Technologies Private Limited and Thin Films business into HHV Advanced Technologies Private Limited. Both are 100% subsidiaries of HHV.
Also read: NSE revises norms for exclusion from index in case of demerger
Accordingly, the Vacuum Systems division which manufactures vacuum furnaces and carbon-carbon composites within HHV has been transferred to HHV Thermal Technologies including the design, manufacturing rights, employees, customers, and suppliers.
Similarly, the Thin Films division which manufactures PVD and other technology-based thin film deposition equipment and the thin Film coatings division which manufactures optical components from flats to lenses covering the UV, Visible and Infra-Red space within HHV has been transferred to HHV Advanced Technologies.
HHV’s consolidated revenues were ₹1.43 billion in FY2022, with over 25 per cent of revenues generated from outside India.
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