Coimbatore, India, February 18, 2015 --(PR.com
)-- Pricol Limited, India based automotive components and precision engineering products manufacturer as mentioned afore in December 2014, has completed the acquisition of Brazil based auto component manufacturer, Melling through its solely owned subsidiary in Spain ‘Pricol Espana’. The acquisition was completed at the end of January 2015 and cost of the same is Brazilian One Reais (B$ 1) only.
Melling has major presence in Brazil and it’s amongst the top two players in the marketplace for the oil pumps, water pumps, cold start valves and aluminium castings. It mainly serves in Brazil market and also supplies auto components to OEMs in the USA. Melling had the sales revenue of Rs 3011 million during the year 2013.
The company said that this procurement will facilitate Pricol to get into Brazil’s auto component market. Pricol targets revenue of around 375 crore from the Brazilian market in the next three years by suffusing fresh capital through the Spanish subsidiary.
About Pricol Ltd: Pricol Ltd is a flagship Tier 1 company, complete automotive parts and automobile accessories manufacturers and suppliers for Automotive OEMs. Pricol Ltd supplies auto components to leading brands of two wheelers, four wheelers, commercial vehicles, tractors, trucks, buses, construction & Industrial segment, etc. Pricol also manufactures sintered components, products for fleet management solutions, tooling solutions and many more.