Pricol Ltd Merged Company Summary

Pricol Ltd Merged Summary

Premier Instruments & Controls(PRICOL), is engaged in the business of manufacturing Dashboard Instruments & Accessories , Oil Pumps and Idle Speed Control Valve Assembly. The company promoted by late N Damodaran and L G Varadarajulu in 1972 has commenced commercial production in 1975.Primarily an automobile ancillary unit, it diversified into electronic control instruments, precision machine tools, panel and sensor instruments for defence and industrial gauges. It plants at Coimbatore, Tamilnadu and Gurgaon, Haryana, manufactures and assemble dashboard instruments. The company came out with a rights issue in March 1995 to augment its long-term resources and to meet additional working capital requirements. The company entered into technical collaboration with various foreign companies like N S International, US; Denso Corporation, Nippon Seiki Co. Ltd, Toyoda Gosei Co., Kojima Press Inds., all of Japan and Deok Chang Machinery Co. of Korea to upgrade its technology. The company has marketing agents in Germany, France, Italy, Netherlands, UK, US, Finland, Turkey, Egypt, Syria, Malaysia, Belgium and South Africa.The companys new product - Disk Brake is under testing at various two-wheeler manufacturers and the commercial supplies are expected to be commence soon.The name of the company has been changed from Premier Instruments & Controls Ltd to PRICOL Ltd.