Escorts today announced the divestment of its automobile parts division to Badve Engineering, Pune in an all cash deal as a part of a planned strategic reorientation.
Escorts will focus on core verticals in the agri machinery, construction equipment and railway equipment space. The auto products business comprises a product basket catering to both automobile manufacturers and the replacement market in India and overseas for all vehicle categories including motorcycles, scooters, passenger cars, commercial vehicles, and multi-utility vehicles. Dipankar Ghosh, CEO, Escorts Auto Products & Escorts Railways Products, “We believe that the transfer of OEM and Export business to Badve Engineering Ltd will help us to focus on our core areas. We are delighted that Badve Engineering Ltd has stepped in to take the business forward.”