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
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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