Premium Transmission Ltd, part of the Karan Thapar Group, has divested its automotive gear manufacturing division to Indsur Global Limited.
Indsur Global manufactures insulator castings for the automobile sector at its plant in Halol, India. The acquisition will provide Indsur Group with access to key customers and a strong platform for expansion.
Premium Transmission is a leading manufacturer of industrial gearboxes in India. The automotive gear manufacturing division in Aurangabad serves mainly three wheeler manufacturers in the country.
Praveen Sachdev, chairman of Premium Transmissions, said that the company would now be able to focus more on industrial transmission solutions, which account for over 90 per cent of its turnover. The automotive gear manufacturing division contributed only about 7 per cent.
"This is our core area and we want to take a lead in this area. Power, cement, sugar, mining are sectors driving the company's growth," said Atulya Gupta, MD & CEO of Premium Transmission Ltd.
