Sriram Pistons & Rings agrees to acquire 100% stake in TGPEL Precision Engineering
The acquisition is expected to strengthen SPRL's position in the manufacturing of high-precision injection-molded components
Sriram Pistons & Rings Ltd. (SPRL), an automotive supplier based in India, has announced plans to acquire 100% shareholdings in TGPEL Precision Engineering Ltd. through its wholly owned subsidiary SPR Engineering Ltd. at an enterprise value of 2.2 billion Indian rupees (about $25.9 million), The Economic Times reported Dec. 10.
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