New Delhi [India], February 9 (ANI): Auto part maker Shriram Pistons and Rings (SPRL) on Thursday introduced that it could purchase 75 per cent shareholding in Takahata Precision India (TPIL) via its wholly-owned subsidiary — SPR Engenious (SEL). This will mark SPRL’s foray into the manufacturing of precision injection moulded parts.
SPRL stated it could purchase the agency for a money consideration of Rs 222 crore.
TPIL is an final subsidiary of Takahata Japan included in 2010 and has its manufacturing facility at Neemrana, Rajasthan, the assertion of SPRL shared with exchanges stated. TPIL is well-equipped with the design and improvement of high-technology precision moulds, automated assemblies, inner instrument manufacturing and state-of-the-art injection moulding part manufacturing amenities.
Krishnakumar Srinivasan, managing director and CEO, SPRL, stated, “with this strategic investment, SPRL aims to diversify its product portfolio beyond the current pistons, rings, engine valves and EV components to precision plastic injection moulded parts.”Japanese agency Takahata Precision is a recision injection moulded elements manufacturing firm with a variety of merchandise within the automotive area. Takahata Japan can be current in industrial merchandise/elements reminiscent of workplace automation gear, optical gear, residential amenities, medical gear and correct measuring devices.
Krishnakumar Srinivasan stated, “With the operations and technology support of Takahata Japan to TPIL, we will be able to service the domestic and global customers requiring precision moulded parts both for automotive and industrial applications. Takahata brings in their hi-technology expertise to develop complex parts for these applications.”The acquisition is topic to customary approvals and situations. EY acted because the unique monetary advisor to SPRL on this transaction, in response to the corporate’s assertion.
Recently, SPRL additionally accomplished the acquisition of EMFI, producers of Electric Vehicle Motors and Controllers based mostly in Coimbatore, Tamil Nadu (India). (ANI)