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Rane (Madras) acquires Precision Die Casting for USD 2.02 million-The 17th Guanzhou Die-casting,Foundry&Industry Furnace Exhibition
3/30/2016 Die-casting,Foundry&Industry Furnace Exhibition |
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Business Standard reported that Chennai-based auto components maker Rane (Madras) Limited has acquired US-based Precision Die Casting, Inc. USA and infused USD 2.02 million as equity capital.
The company has executed a share purchase agreement in the United States on February 17 with DPI/PDC Holdings and acquired 100% per cent of PDC''s equity.
The company said that it has incorporated Rane (Madras) International Holdings B.V, a wholly-owned subsidiary in Netherlands as a private company.
The company has aslo issued a limited guarantee by way of SBLC for $2 million towards the term loans facilities availed by PDC.
-The 17th Guanzhou Die-casting,Foundry&Industry Furnace Exhibition
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