Shriram Pistons & Rings (SPR) has announced its plans to acquire 75% shareholding in Takahata Precision India (TPI) through its wholly owned subsidiary, SPR Engenious (SEL), marking its foray into the manufacturing of precision injection moulded components.
A press release from SPR noted that TPI is well-equipped to design and develop high-technology precision moulds, automated assemblies, internal tool manufacturing and state-of-the-art injection moulding component manufacturing facilities.
Krishnakumar Srinivasan, MD & CEO, SPR, noted that with the strategic investment, the company aims to diversify its product portfolio beyond the current pistons, rings, engine valves and EV components to precision plastic injection moulded parts.
With the operations & technology support of Takahata Japan to TPI, the company will be able to service the domestic and global customers requiring precision moulded parts both for automotive & industrial applications, he added.
Srinivasan stated, “This acquisition combines two strong, technology-led manufacturing teams, allied in their pursuit of excellence to deliver world-class manufacturing and moulding technology, which will enhance relationships with existing customers while creating additional opportunities for growth and expansion.”
Recently, SPRL also acquired EMFI, Electric Vehicle Motors and Controllers manufacturers based in Coimbatore.