| Suprajit Engg buys out UK partner for Rs 25cr |
| Our Bureau / Bangalore April 25, 2006 |
| Bangalore-based auto component manufacturer, Suprajit Engineering, has acquired the business of UK-based automotive cable manufacturer CTP Gills Cables, from Carclo. According to an official release issued by Suprajit, it is also likely to acquire Carclo's 50% stake in CTP Suprajit Automotive - a 50:50 joint venture between Suprajit and Carclo, set up as a 100% export oriented unit (EOU) in India. Total consideration for the twin acquisitions is about Rs 25 crore. The company has incorporated a l00% owned subsidiary in UK |
