Metrochem Industries Updates on agreement with Huntsman Investments BV

With reference to the earlier announcement dated June 29, 2007 regarding the approval of the Board of Directors for the Master Agreement to be entered into between the Company and Huntsman Investments (Netherlands) B.V., Metrochem Industries Ltd has announced that pursuant to the approval of the Board of Directors, the Company on June 29, 2007, has signed the said Master Agreement with Huntsman Investments (Netherlands) B.V. under which Huntsman Investments (Netherlands) B.V. would acquire entire shareholding of Baroda Textile Effects Ltd, a subsidiary of the Company to which the Vadodara Unit of the Company is being divested under the Scheme of Arrangement on January 01, 2008 (the appointed date).

Source : Equity Bulls

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