Pricol Ltd has informed BSE that the Board of Directors of the Company at its meeting on April 29, 2011, has approved, subject to the approval of the shareholders, to transfer the business, assets & liabilities related to instrument cluster business of Plant V located at Survey No.1065 & 1066, Pirangut (Village), Mulshi (Taluk), Pune - 412 108 on slump sale basis, to the wholly owned subsidiary Company to be incorporated for this purpose (new Company).
This would facilitate the Company to find for the new Company, a Multinational Automotive component Company to be a Joint Venture partner, who can bring latest global technology, add value to the existing and new customers, add new products to that Company and also assist in international sourcing of material at competitive rates both for new Company and Pricol Ltd.
Sensex
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Saturday, April 30, 2011
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