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Business News/ Companies / News/  Suprajit Engineering buys Pricol’s speedo cable business
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Suprajit Engineering buys Pricol’s speedo cable business

Suprajit executed a business transfer agreement with Pricol to acquire the unit on a slump sale basis

Bangalore-based Suprajit said it is in the process of relocating the plant and machinery from Pricol to one of its facilities. Premium
Bangalore-based Suprajit said it is in the process of relocating the plant and machinery from Pricol to one of its facilities.

Mumbai: Automotive cable maker Suprajit Engineering Ltd on Monday said it has acquired the speedo cable business of Coimbatore-based Pricol Ltd for an undisclosed amount.

Suprajit executed a business transfer agreement with Pricol to acquire the unit on a slump sale basis. The speedo cable business has annual sales of around 10 crore from original equipment manufacturers (OEM) and after-market customers.

Bangalore-based Suprajit said it is in the process of relocating the plant and machinery from Pricol to one of its facilities.

Suprajit manufactures automotive cables with a capacity of 150 million cables a year and has sales of more than $100 million.

At 12.45pm, the shares of the company rose 2.14% to 128.70 apiece at BSE, while the benchmark Sensex rose 0.1% to 26.653.67.

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Published: 29 Sep 2014, 12:52 PM IST
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