Coimbatore, June 29 -- Pricol Limited, one of India's leading automotive technology and precision engineering products and solutions company, on Monday announced that its Board of Directors has approved a scheme of arrangement to demerge its Driver Information and Connected Vehicle Solutions ('DICVS') business undertaking into Pricol Autotech Limited.
Post the demerger, Pricol will continue to focus on its Actuation, Control and Fluid Management Systems ('ACFMS') and Precision Products ('P3L') businesses.
The proposed restructuring will create two distinct listed companies - an automotive technology entity and an automotive and industrial precision engineering entity - simplifying the group's corporate structure while enabling each busine...