The LDC unit of Kongsberg Automotive Group consists of the cable business which is catering to segments like automotive, non-automotive, and two-wheelers in addition to Electro-Mechanical Actuators. The acqusition is expected to be concluded by the end of January 2022.

November 11, 2021

Bengaluru-based automotive component supplier Suprajit Engineering has signed an agreement to acquire the Light Duty Cable (LDC) business unit of Kongsberg Automotive ASA, which is listed on the Oslo Stock Exchange, Norway for an enterprise value of USD 42 million (about INR 315 crore).

As reported in a news daily – the LDC business unit of Kongsberg Automotive Group consists of the cable business, supplying to automotive, non-automotive, and two-wheeler segments along with Electro-Mechanical Actuators (EMA).

Watch: Wire & Cable India News Roundup

As per the statement issued, the transaction also involves the transfer of global sales and engineering expertise related to this business to Suprajit. The transaction is expected to be concluded by the end of January 2022. LDC has three manufacturing plants located in Matamoros, Mexico; Siofok, Hungary; and Shanghai, China; apart from a warehouse in Brownsville – USA.

The presence of LDC’s global business development and engineering teams is there in key geographies including – the USA, Germany, France, Norway, Sweden, and the UK. Also, the current year sales of the division are expected to be in the range of USD 90 million.

Also Read: Hindalco Industries to Acquire Ryker Base for INR 323 Crore

Speaking on the acquisition, Mr. Ajith Rai, Founder, and Chairman of Suprajit Engineering, remarks, “The LDC business unit of Kongsberg Automotive is a perfect fit for Suprajit. With LDC’s manufacturing footprint in 3 continents with sales, business development and engineering support across the world, and, with the annual cable capacity of 400+ million would make Suprajit a truly global major in the cables business.”