Industrial tie-up to revive sick units

NASHIK: To boost industries by providing them with business opportunities from firms overseas and revive defunct plants with the help of companies planning to invest in the city, the Nashik Industries & Manufacturers' Association (NIMA) has tied up with Mumbai-based Mindspring Advisors Pvt Ltd (MAPL), a corporate finance advisory firm, to offer consultancy services.
This decision was taken at a meeting between NIMA office-bearers and MAPL officials. It was decided that a joint initiative be taken to revive sick and closed units in Nashik with help from foreign investors and technical consultants.
NIMA president Dhananjay Bele, Mindspring senior official Rishikiesh Shintre, NIMA secretary Manish Kothari, treasurer Mangesh Patankar, former president Narendra Hirawat and chairman of NIMA's sub-committee on power Milind Chincholikar were present at the meet.
Bele said, "Nashik has emerged as one of the fastest developing cities in the country and as an industrial destination. Industries have to face various problems and tough competition while expanding the business. We have tied up with MAPL to make advanced technology at international levels available to local industries and help those companies which have good quality production and market but are closed due to various reasons like finance etc."
MAPL official Rishikesh Shintre on the occasion said that his organization is a corporate finance advisory firm and is engaged in providing assistance to industries in achieving business growth and revive closed industries with the help of investors in the country as well as overseas.
Nashik has about 3,000 industrial units in the Maharashtra Industrial Development Corporation's Satpur and Ambad industrial areas, out of which 2,700 are micro, small and medium enterprises. About 150 industrial units are defunct due to various reasons.