Remsons Industries has entered into a binding agreement through international bidding to acquire the business of Magal Cables (MCL) along with the shares of its associates, subsidiaries and JV. The total consideration would be in the range of British pound sterling 3 to 4 million subject to closing adjustments. This acquisition is a step towards forward integration as Remsons is one of the largest suppliers to MCL and this will create value for all the stakeholders.
Remsons Industries is engaged in the manufacture of cables, flexible shafts, gear shift systems, push pull cables and park brake mechanisms. The product range of the company includes Cables- The company manufactures cables for two-wheelers, three-wheelers, four-wheeler, commercial vehicles, construction equipments, mining equipment and farm equipments.
