Pricol agrees to buy car wiper business of PMP Auto Components

Acquisition would be undertaken through Pricol's wholly owned subsidiaries

Automotive components manufacturer Pricol has signed an agreement to acquire 100 per cent of the wiping systems business of PMP Auto Components.

The acquisition would be undertaken by Pricol through its wholly owned subsidiaries and the transaction will be funded by a combination of internal accruals and external debt.

The company said that the transaction would be EPS (earnings per share) accretive — increasing acquirer's EPS — to the shareholders of Pricol and the profitability is expected to further improve upon the integration of the business with Pricol.

PMP, which acquired the wiping systems business in 2008, currently runs manufacturing facilities in the Czech Republic,