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Stock Report
Sika Interplant to form JV with MACCON GmbH, Germany
Posted On : 2007-07-24 10:24:36( TIMEZONE : IST )
Sika Interplant Systems Ltd has announced that the Board of Directors of the Company at its meeting held on July 23, 2007, inter alia, has transacted the following:
1. The Board approved the formation of a Joint Venture (JV) in India with MACCON GmbH, Germany for design, develop & manufacture Motion Control and Servo Systems for aerospace, automotive industry. Further Board approved the investment of 51% per cent equity in the proposed joint venture.
2. The Board approved the investment for aerospace components & assemblies project which includes investment of 55% towards equity in a new Company in United Kingdom. The proposed new Company is being promoted with specialist in aerospace components & assemblies.
The stock closed the day at Rs.60.10, up by Rs.5.45 or 9.97%. The total traded quantity was 14772 compared to 2 week average of 5742. The stock hit an intraday high of Rs.60.10 and low of Rs.54.
