Suprajit acquires Pricol’s speedo Cable business

Suprajit Engineering has acquired the speedo cable business from Coimbatore-based Pricol Ltd. In a filing with the Bombay Stock Exchange, the company said it executed a business transfer agreement with Pricol for the acquisition on a slump sale basis.

The business has annual sales of around Rs 10 crore with major OEMs and aftermarket customers. The company is in the process of transferring the plant and machinery from one of its facilities at Bangalore.

The Suprajit Group comprises Suprajit Engineering, Suprajit Automotive and Suprajit Europe. With a compounded annual growth of over 30 percent, the group has one of the largest manufacturing capacities in world at 150 million cables per year.

Suprajit supplies cables  to several global and domestic automotive customers including Tata Motors, BMW, General Motors (India), Volkswagen, Ford India, Suzuki, Mahindra & Mahindra, Jaguar, Land Rover, Piaggio, Nissan, Lear Corporation, Eicher Motors, Swaraj Mazda, SAAB, Magna, Behr India, Inteva Products Automotive India and many others.