Incorporated in 1985, Suprajit Engineering makes two-wheeler control cables. Photo: Pradeep Gaur/MintNew Delhi: Auto parts maker Suprajit Engineering Ltd Monday said that it has bought Wescon Controls, a US-based control cables maker, from Shell Topco Lp for an enterprise value of $44.4 million (about Rs295 crore). Bengaluru-based Suprajit Engineering said the transaction was funded by cash and debt in the ratio of 50:50. Incorporated in 1985, Suprajit Engineering makes two-wheeler control cables. This will also prepare solid ground for Suprajit to continue to increase its exposure in both automotive and non-automotive business in the Americas,” K. Ajith Kumar Rai, chairman and managing director of Suprajit Engineering, said in the statement.

Source: Mint September 12, 2016 18:33 UTC