Precision Camshafts Ltd (PCL) has
acquired 51% stake in Dutch electric driveline maker Emoss Mobile Systems B.V through
its wholly owned Dutch subsidiary, PCL (International) Holding B.V. This is the
third strategic acquisition by PCL in the last eight months in line with its
long-term growth strategy. Edwin Hobbel, Emoss Managing Director will continue
to own 49% of the business and continue to run the show at Emoss.
Based in Netherlands, Emoss,
is a renowned manufacturer and supplier of complete integrated electric
drivelines for trucks and buses to leading OEMs and end-users including DSV,
Ferrovial, Geesink Norba, Heineken, Mellor and Waste Management New Zealand.
PCL acquired the 51% Equity
Shares of Emoss Mobile Systems B.V. Netherlands (“Emoss”) on May 17, 2018 at Euros
7.358 million (Rs 58 crore approx.). The acquisition has been funded through a
combination of loan sanctioned by Bank of Baroda, London and investments made
by PCL through its internal generation in PCL Netherlands. Emoss has visibility
to scale business 5 times in the 4 years.
Emoss is a one-of-a-kind
business that designs, develops, produces and supplies complete electric powertrains
for trucks, busses, military vehicles and heavy equipment. The Emoss business
model includes conversion of diesel trucks into ready to use electric trucks
within a short span of 90 days. The company also manufactures “ready to
assemble modular kits” which are assembled onto the chassis by the end
customer. Both the equipment and the software are extensively tested before
they hit the road, resulting in reliable and durable products. With over 10
years of experience in the electric driveline space, Emoss is leading the
industry and is ready for rapid changes in electrical mobility and the
interrelated growth in demand. Located in The Netherlands, with the Port of
Rotterdam nearby, Emoss also has a strategic position to ship their products
Emoss provides an end to end
solution to its customers which includes research and development, engineering,
production, testing, certification, delivery and post-sale service. The Company
also provides real time power management and tracking via an integrated cockpit
setup. The trucks powered with Electric Drivelines can carry a maximum payload
of 50 tons with a mobility of up to 350 km which may be extended beyond 500 km
with long range extenders developed by Emoss.
Emoss is led by a young team
with Edwin Hobbel and Rex Hobbel at its helm. Announcing the latest
acquisition, Yatin Shah, PCL’s Chairman and Managing Director, said: “The
electric vehicle market has grown significantly over the past decade with a
special emphasis on the commercial electric and niche services segment. PCL
with our experience in delivering top of class products to our customers across
our network will leverage this advantage to the Emoss business as well. We are
looking at capturing a significant share of the commercial electric vehicle
market globally. This acquisition will enable PCL to become a global leader in
the automotive industry with a wide variety of solutions ranging from niche
machined components for the internal combustion engine, brakes, steering and
chassis to a complete end to end solution for electric mobility.”
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