Precision Camshafts has received an approval to further invest in 10,000,000 equity shares of Euro 1 each (approximately Rs 76 crore) in PCL (International) Holding B.V., Netherlands a Wholly Owned Subsidiary (WOS) company of the company in tranches. The board of directors at its meeting held on December 8, 2017 has approved for the same.
The company has also received approval to issue Corporate Guarantee in favour of Bank of Baroda (BoB) in respect of term loan sanctioned by BoB to PCL (International) Holdings B.V., Netherlands.
Precision Camshafts is one of the world’s leading manufacturers and supplier of camshafts, a critical engine component, in the passenger vehicle segment based on its estimated global market share by volume.
