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Precision Camshafts gets nod to grant foreign currency loan to subsidiary

Precision Camshafts has received an approval to grant a Foreign Currency loan of EURO 3,150,000 (i.e approximately Rs 26 crore) to PCL (International) Holdings B.V., Netherlands, a Wholly Owned Subsidiary of the company to meet the funds requirements for strategic investments. The Board of Directors of the company at their meeting held on November 14, 2018, approved the same.

Precision Camshafts is one of the world’s leading manufacturers and supplier of camshafts, a critical engine component, in the passenger vehicle segment based on its estimated global market share by volume.

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