Kirloskar Oil to sell Valves Unit
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Kirloskar Oil to sell Valves Unit
 
The Kirloskar Oil Engines Ltd has recently made an announcement and said that it has entered into a sale agreement with the Eaton Industrial Systems Pvt Ltd, Pune and Eaton Corporation, US. The company has informed the Bombay Stock Exchange regarding the matter through an official statement.

According to the statement of the company, it is going to hive off the valves division of its auto components business at MIDC, Ahmednagar and MIDC, Nashik. The company said that it will be getting a consideration not exceeding Rs 90 crore for hiving off the unit. The statement added that the agreement is subject to approval of the shareholders under the Section 293 of the Companies Act, 1956 and such approvals and consents as may be required.
Posted On : 02 May 08
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Kirloskar Oil to sell Valves Unit
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