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Auto components manufacturer Pricol Ltd has charted out an expansion and overseas acquisition plans that will drive growth over the next five years.
The company will invest about ₹400-600 crore in the next four years to take its consolidated revenue of ₹1,450 crore to about ₹3,000 by 2020.
This will mean that in line with the evolving trends in the automobile sector it will focus on some emerging new lines of business such as telematics and asset management, while exiting some such as traditional instrumentation cluster manufacturing for cars.
Addressing media persons at the launch of a new brand identity for the company, Vikram Mohan, Managing Director, said the company will commence operations at a new plant in Pune in May 2016. It is also looking at starting operations in Vietnam and acquisitions in Europe and North America that will give it additional capability in automotive pumps and sensors.
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