We are pleased to announce that effective today, Friday September 09, 2016, Wescon Controls has been acquired by Suprajit USA Inc. a wholly owned subsidiary of Suprajit Engineering, Ltd.
The strategic fit of Wescon with Suprajit, along with the complementary capabilities of the two companies, makes this a compelling opportunity for our customers, employees, and suppliers. It offers a strong platform to support Wescon’s premier position in the Outdoor Power Equipment market, continued growth into other non-automotive segments, and the ability to expand our geographic reach outside of North America.
It is ‘business as usual’ at Wescon. Your contacts at Wescon continue to be the same and we treasure your relationship.
Commenting on the acquisition Mr. K. Ajith Kumar Rai, Chairman and Managing Director of Suprajit Engineering said, Wescon Controls is a perfect strategic fit for Suprajit. Wescon’s market leading position in North America in the OPE segment is a significant sectorial de-risk for Suprajit in its core business of cables. This will also prepare a solid ground for Suprajit to continue to increase its exposure in both automotive and non-automotive business in the Americas. With the added strength of Wescon, new plants in India and judicious augmentation of capacities across its plants, Suprajit will emerge as the second largest cable maker in the world in the near term. We will continue our Endeavour of efficient capital allocation and profitable growth”.
Mr. N.S.Mohan, President, Suprajit Engineering, who led the transaction team of Suprajit, commented “Wescon gives us a complementary manufacturing footprint and bringing strong engineering support to our existing customers in North America. Mutual strengths of both Wescon and Suprajit can bring significant advantages and value to both of our customers and is a “Win-Win” deal.