Financial Daily from THE HINDU group of publications
Saturday, Jun 08, 2002

News
Features
Stocks
Port Info
Archives

Group Sites

Corporate - Mergers & Acquisitions


Shareholders okay Duracell unit sale

Our Bureau

NEW DELHI, June 7

THE shareholders of Gillette India Ltd have approved the disposal and sale of plant and equipment of Duracell India's plant at Manesar, Haryana, to Duracell Belgium, for $ 6.5 million.

The approval of the shareholders was obtained through the postal ballot as per the requirements of the Companies Act, 1956 the result of which was announced at the Annual General Meeting held at Manesar on Friday.

According to the company, the proceedings for sale of manufacturing equipment at the Manesar plant had been instituted subsequent to the discontinuation of production at the plant after a voluntary retirement scheme was offered and accepted by all the employees of the plant. The cost incurred for VRS was Rs 60.64 crore.

Send this article to Friends by E-Mail

Stories in this Section
DVC board meet to consider SBU proposal


Orchid Chemicals bets on restructuring to spark growth
Morepen Lab acquires Lifespring for Rs 12 cr
Shareholders okay Duracell unit sale
Apollo Tyres expanding capacity at Perambra unit -- Plans for Kalamassery plant shelved
DCA cell settles 266 complaints
TVS-E, Tech Pacific in distribution tie-up
IDBI directed to modify Mafatlal revival scheme
Will Traco emerge from the blues?
Cosmo working to push demand for BOPP films
Funds infusion, debt recast to help in Kitply turnaround
Kochi Refineries hit hard by TN entry tax


The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription
Group Sites: The Hindu | Business Line | The Sportstar | Frontline | Home |

Copyright 2002, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line