Sical Logistics sells its auto components division

Sical Logistics has sold the manufacturing facilities and assets of its auto components division, indrad auto components, for Rs 14.69 crore to Lucas TVS, one of India’s largest auto electrical manufacturing companies.

With this asset disposal, the total funds realized by the company since the start of the dis-investment process, in 2006, have gone upto Rs 90.18 crore. The exit from the facilities of the auto components division, part of the non logistics business of the company, is in continuation of the company‚Äôs strategy to exit its non core businesses and focus on the core business of logistics. The company had been in talks with a number of global majors but zeroed in on the TVS group because of business synergies and the fit of the facilities to TVS’s growing needs.