LUCKNOW, INDIA – Concord Control Systems Limited has taken a step into advanced electronics manufacturing with the acquisition of a 50% equity stake in Fusion Electronics Private Limited. The deal, completed through a definitive share purchase agreement, marks Concord’s entry into the high-value flex PCB segment and designates Fusion as an associate company.

Fusion Electronics operates India’s largest flex PCB manufacturing unit, with an annual installed capacity of 200,000m². The facility supports EBITDA margins above 20% and supplies major automotive clients including Ferrari, BMW, Mercedes-Benz, Land Rover, Magneti Marelli and Hella.

By leveraging Fusion’s established position, Concord plans to diversify beyond its railway systems core, entering new electronics and industrial markets. The company’s three-year strategy outlines plans to double production capacity, integrate surface-mount and box-build capabilities, and create a standalone EMS platform for strategic industries.

Leadership changes accompany the acquisition, with former promoter Sameer Mehan resigning from Fusion’s board effective October 29. New directors include Gaurav Lath, Nitin Jain, Pankhuri Lath and Mahima Jain.

“This acquisition strengthens our journey toward building India’s most advanced, high-value railway and electronics ecosystem—powering innovation, self-reliance and growth,” Concord stated.

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