Precision Camshafts a world auto leading manufacturer and supplier of camshafts has acquired precision component maker Nashik-based MEMCO Engineering Private Limited (MEMCO).
Precision Camshaft (PCL), a one-stop solution for Camshaft’s chilled cast iron, ductile iron, hybrid and assembled has exported over 60 million camshafts worldwide. The company’s include global Original Equipment Manufacturers (OEMs) such as General Motors, Maruti Suzuki, Ford Motors, Toyota, Hyundai, Daimler and Porsche.
Precision Camshaft, Chairman and Managing Director, Yatin Shah, said, “We are happy to announce the acquisition of Nashik-based MEMCO. This synergy will help us further strengthen our industry leadership and diversify into a new product range.”
“With the merged know-how in manufacturing and increased financial bandwidth from PCL, there is a great potential to scale the business in Nashik. We are already in contact with new and old customers to increase business as MEMCO”, Shah added.
Director and CFO, RavindraJoshi said “MEMCO is a good first acquisition for PCL in terms of size, products, location and scalability.”
MEMCO, with a CAGR of 18.5 percent over last 4 years, has relationships with marquee global customers like Bosch, Delphi, Endress+Hauser and Giro. With a capacity to produce 10.7 million precision components, MEMCO’s key products include fuel injection components for conventional and CRDi diesel engines, brake components, high pressure diesel injector connectors for naval ships and high precision instrumentation components.
Rajan Dharkar and VinitaDharkar will continue to run the show at MEMCO for the next two years.