Auto ancillary company Precision Camshafts (PCL) Ltd has acquired Nashik-based precision component maker MEMCO Engineering (MEMCO) for an undisclosed sum.

“This synergy will help us further strengthen our industry leadership and diversify into a new product range,” PCL Chairman and Managing Director Yatin Shah said.

MEMCO, a Nashik-based financially strong company with an annual growth rate of 18.5 per cent over the past four years, has the 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.

“With the merged knowhow in manufacturing and increased financial bandwidth from PCL, there is a great potential to scale the business in Nashik. We are in contact with new and old customers to increase business at MEMCO,” said Shah.

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