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Sunday, Jan 13, 2002

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Nalco Chem to become Ondeo Nalco

Jayanta Mallick

KOLKATA, Jan. 12

NALCO Chemicals India Ltd is changing its name to Ondeo Nalco India Ltd. It has also planned to merge its wholly-owned subsidiary Aqua Chemicals & Manufacturing Systems Ltd (ACS) with itself.

Mr Ravi Chandran, Executive Director (Corporate Sales), told Business Line over the telephone from Chennai that the registrar of companies recently approved the new name for Nalco Chemicals.

The Kolkata-registered Nalco Chemicals' board will meet here on January 14 to consider the scheme of amalgamation and other procedures such as making relevant application to the Calcutta High Court and holding a shareholders' meeting for seeking approval to the merger proposal.

The board will also discuss the agenda for the annual general meeting scheduled for February 14. Mr Chandran said the Chennai-registered ACS had already moved Madras High Court for the merger proceedings. ``Since ACS has just one shareholder, the formalities at the Chennai end will a little less. We hope to be through with the whole amalgamation process by the end of March so that the merged entity could have seamless accounts for 2002-03," Mr Chandran said.

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