Pricol Tech plans to acquire European co
Coimbatore-based engineering design company Pricol Technologies is looking to acquire a European company as part of its expansion plan.
By Ritwik Donde, TNN |
MUMBAI: Coimbatore-based engineering design company Pricol Technologies is looking to acquire a European company as part of its expansion plan. It is targeting a company with revenues in excess of $25m.
AS Ramaseshan, president and COO, Pricol Technologies, said, “Basically, we are a product development company, however, we now want to add to our expertise.
Therefore we are looking for a company in Power Train Engineering — related to engine and transmission.” He said the two-year-old Pricol Technologies mainly has a European focus, as far as its expansion plans are concerned but there are talks going on with an Italian company along with two US-based companies as well.
Earlier this year, Pricol Technologies had entered into a joint venture agreement with Italian Styling major Carcerano Srl to offer auto styling solutions for the Asian markets. Pricol Technologies is a product design engineering company with a part holding by the Rs 650-crore Pricol, having an employee strength of nearly 150 engineers in India.
The company recorded revenues of Rs 5 crore last year and expects revenues of Rs 12 crore this year. Pricol Technologies is involved in embedded system development and providing CAD services. It offers product designing related to electronics, electro-mechanics and mechanics.
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It also offers product and market research and concept development, design feasibility study, detailed design, rapid prototyping, tooling and even manufacturing to various industries. It has a large customer base in the automotive industry.Start a SIP with as low as ₹500 with ET Money App!
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