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Precision Camshafts shuts China operations

Auto News - Published on Tue, 07 May 2019

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Precision Camshafts informed BSE last week that it has shut operations in China market. It said “Reason behind the shut down is unsustainability for the company due to low business and phase of the camshaft that it produced for its customers.”

PCL (Shanghai) Co Ltd, a wholly owned subsidiary was incorporated in February 2011 with the purpose of expanding the business to the growing OEM base in China. For the first few years, PCL (Shanghai) was able to onboard new clients and Ford Motor Company was one of its major customers. The company was supplying camshaft castings, to Ford in China. Over the last few years, the particular camshafts got phased out in China which impacted the operations of PCL (Shanghai) along with its profitability.

The Board of Directors have also approved to initiate liquidation of the same.

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Posted By : Mohan Sharma on Tue, 07 May 2019
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