Concord Control Systems Ltd Acquires Additional Shares of Fusion Electronics, Expanding into High-Value Flex PCB Manufacturing

Concord Control Systems Ltd has executed a Share Purchase Agreement (SPA2) to acquire additional equity shares of Fusion Electronics Private Limited, a company with over 31 years of legacy in the production of flex printed circuit boards in India. This acquisition will make Fusion a subsidiary of Concord. The acquisition is expected to be completed within six months and will enable Concord to enter a niche, high-value product segment with limited competition but large import dependency in India. Fusion is the largest Flex PCB Manufacturing Unit in India with an installed capacity of 2,00,000 sq. meters annually and a revenue potential of ~X200 Cr+ at full capacity. The transaction does not require any governmental or regulatory approvals.