MEMCO, a Nashik-based, financially strong company with a CAGR of 18.5% over last 4 years, enjoys long term relationships with marquee global customers like Bosch, Delphi, Endress+Hauser and Giro. With a capacity to produce 10.7 million precision components, MEMCO's key products include fuel injection components for conventional and CRDi diesel engines, brake components, high pressure diesel injector connectors for naval ships and high precision instrumentation components.

"With the merged know-how in manufacturing and increased financial bandwidth from PCL, there is a great potential to scale the business in Nashik. We are already in contact with new and old customers to increase business as MEMCO", said Shah. Director and CFO, RavindraJoshi said, "MEMCO is a good first acquisition for PCL in terms of size, products, location and scalability."

Rajan Dharkar and VinitaDharkar will continue to run the show at MEMCO for the next two years.

In the recent past, PCL has won a global contract from General Motors for six million fully finished camshafts over the life of the programme. The aggregate value of this programme over its lifetime is estimated to be Rs. 580crore. In addition, PCL has won a global contract from Ford Motors for eight million fully finished camshafts with an aggregate value of Rs. 550 crore. Both programs would start serial production in 2018-19.