CMP BATTERIES TO BUY 23.8% IN TUDOR INDIA
Article Abstract:
CMP Batteries Ltd (CBL) will be acquiring 23.81 percent stake in Tudor India Ltd (TIL) at Rs14 per share, aggregating Rs5.3 crore. These shares will be purchased from JM Shah, the Indian promoter of TIL. After the acquisition, the stake of Exide Holding Europe in TIL will increase to 74.81 percent from 51 percent. CMP will also be offering corporate guarantees to banks and financial institutions that are funding TIL. In 1997-98, TIL incurred a net loss of Rs3.43 crore and an accumulated loss of Rs20.31 crore. TIL is a storage battery producer. CBL is an Exide group company. (ag)
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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ARBL TO PUMP IN Rs3 CR TO EXPAND OUTER COVER CAPACITY
Article Abstract:
Amara Raja Batteries Ltd is expanding its capacity to manufacture plastic outer covers for its batteries. The existing project, set up with an investment of Rs5 crore, can only meet the needs of its industrial battery division, so the company has decided on an additional investment of Rs3 crore to accommodate the requirements of its automotive batteries division. The company presently has the capacity to produce 1 lakh industrial batteries and 4 lakh automotive batteries. (khr)
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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