Precision Camshafts’ Wholly Owned Subsidiary -- PCL (International) Holding B.V. (Netherlands) has acquired balance 24% shareholding in MFT Motoren und Fahrzeugtechnik GmbH, Germany in addition to the existing 76% shareholding making it a Wholly Owned Step-down Subsidiary of the company for a total consideration of Euro 0.55 million (Rs 4.76 crore).
MFT Motoren und Fahrzeugtechnik GmbH (Target Company) is manufacturer of camshafts, balancer shafts and prismatic components. This acquisition will help expand the customer base and product lines. Acquiring balance 24% shareholding of the Target Company will allow the company to expand its manufacturing base in the European Market and have full control over the affairs of the Target Company.
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.
