Birla Machining & Toolings Ltd has informed BSE that the Company is engaged in the business of Machining of Castings and Cutting Tools.
Birla Precision Technologies Ltd (a Yash Birla Group Company) is engaged in the business of Machining of Precision Components, manufacturing of high speed steel cutting tools, precision AT3 Class tool holders, HSK tooling, Expanding Mandrels and Sleeves besides advanced products like hydro grip and shrink fit CNC Toolings.
With a view to realign businesses of above two companies, the Board of Directors of the Company at its meeting held on March 31, 2011 have approved the amalgamation of Birla Machining & Toolings Ltd (Formerly Dagger Forst Tools Ltd) with Birla Precision Technologies Ltd.
The appointed date of the Scheme of Arrangement is April 01, 2010 or such other date as may be approved by the High Court of Judicature at Bombay.
The Scheme of Arrangement is subject to the approval of shareholders of Birla Precision Technologies Ltd & Birla Machining & Toolings Ltd, High Court of Judicature at Bombay, Stock Exchange and other regulatory authorities, if any.
Sensex
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Saturday, April 02, 2011
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