Press Release for acquisition of stake in Fusion Electronics Private Limited
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Concord Control Systems Ltd (BSE: CNCRD) announced the acquisition of Fusion Electronics Private Limited, India's largest flexible PCB manufacturer with over 31 years of experience. Fusion has an installed capacity of 200,000 square meters annually, revenue potential of ~₹200 crore at full capacity, and EBITDA margins over 20%. Its portfolio covers flex roll-to-roll, rigid panel, and flex panel processing, serving marquee clients in luxury automotive, industrial, and electronics sectors globally. The acquisition gives Concord entry into the high-value flex PCB segment, which currently has limited domestic competition but heavy import dependency. Plans include full commercialization of the Lucknow facility by year-end 2025, a 2× capacity expansion over three years, and forward integration into Surface Mount Technology (SMT), box build, and railway electronics.
This is a strategic growth move into a high-margin, import-substitution segment that diversifies Concord's revenue beyond railway electronics. Shareholders may view it positively as a step toward becoming a global EMS leader, though execution and integration risks remain to be watched.