Precision Camshafts Limited has informed that the board of directors of the company at its meeting approved to acquire balance 5% equity shares of MEMCO Engineering Private Limited. 

Precision Camshafts Limited "PCL" had acquired 95 % equity shares of MEMCO with the objectives of expanding its business operations. Upon acquisition of 5 % equity shares from the existing shareholders, MEMCO will become Wholly Owned Subsidiary of "PCL".