Auto component maker Precision Camshafts today said it has acquired 76 per cent stake in Germany-based MFT Motoren und Fahrzeugtechnik GmbH (MFT) for an undisclosed amount.
Precision Camshafts acquired the company through its wholly-owned subsidiary PCL (International) Holding BV.
"This acquisition is value accretive which will open up synergetic opportunities for us through new product offerings and will establish a global brand presence," Precision Camshafts Chairman and Managing Director Yatin Shah said in a statement.
MFT will not only complement the company's relationships with current OEMs in that region but will also help in enhancing customer base, he added.
MFT has long term relationships with global brands such as Volkswagen, Audi, Opel, Westfalia, Hatz and Suzuki. It manufactures products like balancer shafts, camshafts, bearing caps and engine brackets among others.
Precision Camshafts on the other side caters to clients like Ford Motors, General Motors, Toyota, Maruti Suzuki, Hyundai, Daimler and Porsche.
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