Sujana Universal Industries Ltd (SUIL) said it will soon initiate the process to merge EBC Bearings Ltd (EBC) with itself. SUIL bought EBC, which owns a facility in Hyderabad that can manufacture medium and large sized bearings.
Sujana Universal's light engineering components division has capacity to manufacture ball and taper bearings of 300 mm. The acquisition of EBC will enable Sujana Universal to expand the product range up to 700 mm. It will also help to meet the demand for large bearings in India which is presently being met through imports.
On Monday, Sujana Universal shares rose 0.3% to Rs10 on the Bombay Stock Exchange, while the benchmark Sensex gained 1.6% to 19,906 points
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