Texmaco approves merger of companies

Texmaco Ltd has announced that the Board of Directors of the Company at its meeting held on July 18, 2007, inter alia, has approved the merger of :

(i) M/s Neora Hydro Ltd, - A JV Company in which the Company holds 50% of equity capital. The company is operating a 3 MW Mini Hydro Power Station in District Darjeeling, West Bengal.

(ii) M/s Shree Export House Ltd - A wholly owned subsidiary of the Company dealing in investments.

The Board also approved proposal for merger of M/s Evershine Merchants Pvt Ltd, which owns a prestigious property in Gurgaon, Haryana, comprising of approx. 66,500 sq. ft.

The Board has also approved a proposal for setting up of Food Park in District Howrah, West Bengal in Joint Venture with M/s LMJ International Ltd.

Source : Equity Bulls

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