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Pricol acquires Johnson Controls' 50% stake in JV for $3.15 million

06 May 2015 Evaluate

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.

Peers
Company Name CMP
SamvardhanaMotherson 123.20
Tube Investments 2876.95
Bosch 37764.95
UNO Minda 1127.90
CIE Automotive India 485.95
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