 "Rane (Madras) acquires Precision Die Casting")
The company has executed a share purchase agreement in the United States on February 17 with DPI/PDC Holdings and acquired 100% per cent of PDC's equity.
In an announcement to NSE today, the company said that it has incorporated Rane (Madras) International Holdings B.V, a wholly-owned subsidiary in Netherlands as a private company
The company has aslo issued a limited guarantee by way of SBLC for $2 million towards the term loans facilities availed by PDC.
Rane (Madras) is part of $511 million Rane Group. The company has two divisions -- steering and linkage products and diecasting products.
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