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Nelcast buys 51% stake in Pritika Group
New Delhi, Sept 15 (UNI) Nelcast Ltd, maker of superior quality castings, today said it has acquired 51 per cent stake in Himachal Pradesh and Punjab-based Pritika Group of companies.
''We have signed a Memorandum of Understanding (MoU) for the acquisition on Saturday, September 13,'' the Chennai-based firm said in a statement.
Pritika Group is a renowned organisation in tractor and automotive industry. It provides excellence in field of precision machined components out of casting, forgings and bar stock.
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Story first published: Monday, September 15, 2008, 12:37 [IST]
