Action Construction to acquire 74% stake in Romanian Company

Action Construction Equipment Ltd has announced that the Board of Directors of the Company at its meeting held on January 11, 2007, has approved acquisition of 74% stake in a Romanian Company, thru the Company's Cypursian wholly owned subsidiary (WOS), M/s. FRESTED Ltd, for a total cost of 2.15 Million USD.

Besides, this, the Company will also invest to the extent of 0.45 M USD in that Romanian Company.

Source : Equity Bulls

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