Precision Camshafts has received approval to acquire remaining 5% equity shares of MEMCO Engineering. The company had acquired 95% equity shares of MEMCO with the objectives of expanding its business operations.
Upon acquisition of 5% equity shares from the existing shareholders, MEMCO will become wholly owned Subsidiary of the company. The Board of Directors of the Company at its meeting held on March 23, 2019 has approved the same.
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.
