Pricol has called off joint venture (JV) between the company and Zorg Industries, (Hong Kong) due to project non viability. The Board of Directors of the company at its meeting held on May 30, 2018, approved the same.
In November 2017, the company had signed an exclusive JV agreement with Zorg Industries (Hong Kong) to manufacture, supply and sales of Parking Assistance Systems for the Indian market. In the joint venture, Zorg Industries will provide the technical expertise in sensing, vision technology and manufacturing process.
Pricol is an automotive components and precision engineered products manufacturer based in Coimbatore, India.
