The Board of Directors of Company at its meeting held on December 11, 2014 has proposed to acquire 99.99% of stake in Brazil based auto component manufacturing company through its wholly owned subsidiary incorporated in Spain. The aforesaid Company in Brazil achieved sales revenue of Rs.3011 million during the calendar year 2013. This acquisition will enable Pricol to make a foray into the Brazilian Auto Component Industry. The aforesaid acquisition is expected to be completed by the end of January 2015.