Concord Control Systems has received an approval for the investment to acquire 26% Equity Shares of Progota India against the consideration of around Rs 450 lakh. With the proposed acquisition, the target company shall become an Associate Company of Concord Control Systems. This shall enable the company to explore new opportunities and diversify in new area in Research & development. The Board of Directors of the Company at their meeting held on May 20, 2023, has approved the same.
Concord Control Systems is engaged in the business of manufacturing and supply of coach related and electrification products for Indian Railways and other Railway Contractors.
