Shri Lakshmi Cotsyn board approves formation of joint venture

Shri Lakshmi Cotsyn Ltd has announced that the Board of Directors of the Company at its meeting held on August 31, 2006, has accorded its approval to form ´Joint Venture / Subsidiary´ entity at SAIF Zone, UAE for third country export / import including assembling, packaging & manufacturing of various products / commodities.

Further the Company has informed that, Dr. M P Agarwal, Chairman & Managing Director of the Company has been authorized to take the necessary steps for incorporating and arranging other infrastructure for setting up the aforesaid entity over there. The said entity will be set up in the month of September 2006.

Source : Equity Bulls

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