ELECON Engineering Company Limited announced the incorporation of its wholly-owned step-down subsidiary, Grupo Radicon SA de CV, in Mexico, through its subsidiary, Elecon Singapore Pte. Ltd. The entity received its Tax Identification Number on March 24, 2026, establishing January 8, 2026, as the effective date of incorporation. This new subsidiary is tasked with the Sales, Marketing, and Servicing of Industrial Engineering Products in Mexico and Latin America, supported by a subscribed capital of MXN 100,000 in cash.
Formation of New Mexican Subsidiary
ELECON Engineering Company Limited has confirmed the formation of a new wholly owned step-down subsidiary, Grupo Radicon SA de CV, incorporated in Mexico. This entity was established via the Company’s subsidiary, Elecon Singapore Pte. Ltd., Singapore.
Effective Date and Confirmation
While the formal certificate from the Public Registry of Commerce is awaited, the effective date of incorporation is confirmed as 8th January 2026. This confirmation is based on the receipt of the Tax Identification Number issued by the Government’s Tax Agency of Mexico via a letter dated 24th March, 2026, following documentation submitted earlier in the year.
Subsidiary Details and Purpose
The primary function of the newly incorporated entity will be the Sales, Marketing, and Servicing of Industrial Engineering Products within the Mexico and Latin America regions. The subsidiary belongs to the Engineering Industry.
Capital Structure and Ownership
The subscribed capital of Grupo Radicon SA de CV is MXN 100,000 (Mexican Pesos One Hundred Thousand only), settled through cash consideration. The ownership structure is detailed as follows:
- 99.999% shareholding is controlled by Elecon Singapore Pte Ltd.
- The remaining 0.001% is held by a Nominee Shareholder of Elecon Singapore Pte Ltd.
Source: BSE
