Suprajit Engineering has signed a Definitive Share and Asset Purchase Agreement to acquire Light Duty Cable (LDC) business unit on October 28, 2021 with Kongsberg Automotive ASA, listed on the Oslo Stock Exchange, Norway. The LDC business unit of Kongsberg Automotive Group consists of cable business, supplying to automotive, non-automotive and 2-wheeler segments along with Electro-Mechanical Actuators (EMA). This transaction also involves the transfer of global sales and engineering expertise related to this business to Suprajit. The transaction is expected to close by end of January 2022.
LDC has marquee global customers in automotive, non-automotive and 2-wheeler businesses and is a segment leader in its own right. With this, Suprajit will emerge a global leader in control cables in all these segments with strong global presence. LDC will be a very complimentary fit in its manufacturing footprint, customer base, product and technology. Through this transaction, Suprajit will also add key actuation technologies that can be brought to other customers of Suprajit. EMA will emerge as a new product segment in the future, for the group.
The Company is engaged in the business of manufacturing and selling of automotive and other components and that are considered as single segment.
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