Escorts divests auto products business

June 2, 2024

NEW DELHI: Escorts today announced the demystification of auto parts. As part of its strategic realignment program, Escorts is focusing on key verticals such as Agricultural Machinery, Construction Equipment, Railway Equipment and others.

The automotive products business comprises a basket of products to cater to the needs of various automobile manufacturers and alternative markets in India and abroad, including motorcycles, scooters, passenger cars, commercial vehicles and utility vehicles.

Dipan Ghosh, Chief Executive Officer, Escorts Automotive Products and Escortssss Railway Products, said: “We believe that the transfer of our OEM export business to Badve Engineering Ltd will help us focus on our core areas and with Badve Engineering Ltd’s intervention, the business will move forward. Ltd stepping in, the business will move forward.”

Badve Engineering Ltd. Shrikant Badve “We are pleased to acquire a company with a good market position and versatility in manufacturing a wide range of automotive components for various applications,” commenting on the acquisition said

ICICI Securities acted as transaction advisor for the transaction.

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