Breaking News

You are here » Indian-Commodity  :  Top News  :  Pricol to acquire wiping systems business of PMP Auto Components

14-Jul2017

Pricol to acquire wiping systems business of PMP Auto Components

Automotive components manufacturer Pricol has signed binding agreements to acquire 100% of the wiping systems business of Ashok Piramal group's PMP Auto Components. The acquisition would be undertaken by Pricol through its wholly owned subsidiaries.

The transaction will be funded by a combination of internal accruals and external debt. The transaction would be EPS accretive to the shareholders of Pricol and the profitability is expected to further improve upon integration of the business with Pricol.

The acquisition will help Pricol diversify its product offerings and provide access to manufacturing facilities in Europe and North America, where it currently does not have a footprint, helping it cement its status as a global supplier. Additionally, with this acquisition, Pricol will increase its presence with Passenger vehicles customers diversifying revenue streams and opening up multiple cross selling opportunities.



Related News

View all news

Gold futures trade flat on Monday

Gold futures traded flat on Monday amid the firming dollar on reports that China has cancelled trade talks with the United States. Besides, investors are also eyeing this week's US Federal Reserve meeting......

Crude oil futures trade higher on MCX

Crude oil futures traded higher on MCX as participants enlarged their holdings after the Organization of Petroleum Exporting Countries (OPEC) and its allies signaled less urgency to boost output and stopped......

Mentha oil futures trade lower on sluggish demand

Mentha oil futures traded lower on MCX, as speculators trimmed their positions amid sluggish demand from consuming industries at the spot market. Besides, expectations of bumper crop harvest and nearing......

Top News

View all news

Generic Engineering bags orders worth Rs 273.92 crore

Generic Engineering Construction & Projects has been awarded multiple orders to the tune of Rs 273.92 crore from established & reputed real estate developers and one from India's leading......

Zuari Global enters into agreement with Axis Finance to avail loan facility

Zuari Global has entered into a facility agreement with Axis Finance to avail loan facility and an overdraft facility not exceeding Rs 85 crore and an overdraft facility up to an amount not exceeding Rs......

Ravalgaon Sugar Farm to sell sugar plant

Ravalgaon Sugar Farm has executed the requisite transfer documents for transfer of its Sugar Plant and Building along with surrounding land of approximately 85,000 square meters to S. J. Sugar Distillery......