Pricol has acquired Johnson Controls' 50 per cent stake in its joint venture (JV) firm Johnson Controls Pricol (JCPPL) for USD 3.15 million. Following this deal, JCPPL has become wholly owned subsidiary of Pricol.
Pricol and Johnson Controls formed a 50:50 JV in March, 2012 to develop and manufacture instrument clusters, displays and body electronics for both automakers and motorcycle manufacturers.
Pricol is engaged in the manufacture and export of a complete range of automotive components starting from instrument clusters, dashboard meters, fuel sensors, oil pressure switches, speedometer drive cables, fuel cut off valve, filter suction, etc.