Solitaire Machine enters into agreement with Bocca & Malandrone Sunebo, Italy

Solitaire Machine Tools Ltd has announced that the Company has entered into an exclusive license agreement with Bocca & Malandrone Sunebo S.p.A of Italy.

Bocca has been the leading manufacturer in Europe for Centerless Grinding Machines for past 40 years. The agreement signed on September 12, 2007 envisages meeting requirement of Bocca Grinders in India as well as International Markets. Bocca Grinders are widely used in Europe, India, China and various other emerging markets. Bocca Grinders have advanced technology of fixed center, Hydrostatic Slides and concrete base for improved quality and productivity. Bocca specializes in offering in Turnkey type solution in Centerless grinding.

The Company has two manufacturing plants in Vadodara with substantial capital investment. The Company expects to increase its production, to meet the increased demand. The license agreement with BOCCA will enable the Company to bring in new technology to its present range.

The stock closed the day at Rs.18.70, up by Rs.0.85 or 4.76%. The total traded quantity was 19430 compared to 2 week average of 8471.

The stock hit an intraday high of Rs.18.70 and low of Rs.17.75.

Source : Equity Bulls

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