Rane (Madras) has acquired the US-based Precision Die Casting (PDC) Inc through its wholly-owned subsidiary in the Netherlands for an enterprise value of $8.9 million. The company’s board has approved acquisition at its meeting held on January 25, 2016 .
The deal is expected to be concluded before March 31, 2016. The acquisition will help expansion into overseas die-casting market in line with the strategic goals of the company. The proposed investments will be made by its Netherlands-based subsidiary and PDC will become subsidiary of the company
PDC is in the business of manufacturing high pressure aluminium die-casting for automotive applications like steering and compressor related die-casting components. It has major customers including TRW, JTEKT, Nexteer and Mahle, Rane (Madras) informed the stock exchanges.
Rane (Madras) is the manufacturer of steering & suspension systems for every segment of automobile industry, viz Passenger cars, Multi utility vehicles, Light commercial vehicles, Heavy commercial vehicles and Farm tractors.
