Remsons Industries has completed acquisition of the business of Magal Cables (MCL), UK, part of Arlington Group-Engineering Systems. The cost of acquisition including working capital is GBP 3.5 million pounds. The entire transaction has been funded by a mix of internal accruals and debt without any equity dilution in Remsons. This acquisition is a step towards forward integration to create value for all the stakeholders.
Remsons and the administrators of Arlington Group have completed the acquisition on October 21, 2020. The acquisition has been done through the newly incorporated wholly owned subsidiary Remsons Holdings (Incorporated in the United Kingdom).
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.
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