Pricol agrees to buy wiping systems business of PMP Auto Components

Automotive component manufacturer Pricol Ltd has signed an agreement to acquire 100 per cent of the wiping systems business of PMP Auto Components Pvt Ltd.The acquisition would be undertakin by Pricol Ltd through its wholly owned subsidiaries and the transaction will be funded by a combination of internal accruals and external debt. The company said that the transaction would be EPS accretive to the shareholders of Pricol and the profitability is expected to further improve upon integration of the business with Pricol.PMP, which acquired the wiping systems bysiness in 2008, currently runs manufacturing facilities in Czech Republic, Mexico and India. "With manufacturing presence in Czech Republic and Mexico, this acquisition fits in perfectly with our ongoing plans to establish presence in these regions," said Vikram Mohan, managing director of Pricol.Harsh Piramal, managing director of PMP Auto Components said, "PMP has decided to divest this business as part of its strategic ...

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Pricol agrees to buy car wiper business of PMP Auto Components

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