Omax Autos clarifies on news item regarding new plant

With reference to the item appearing in a leading news channel titled, "Omax Autos is mulling to set up another plant and also scouting for a JV partner for export market", Omax Autos Ltd has clarified about the Company has no specific plans to put a new plant in Central India. However, as informed earlier, there are plans to put up a new manufacturing unit in the state of Uttranchal. Further as informed, the Board of Directors at its meeting held on October 24, 2005 has decided to establish a wholly owned subsidiary / joint venture / acquisition of business outside India / expansion of existing business. As such, there is nothing new.

Source : Equity Bulls

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