Rain Calcining Completes Acquisition of CII Carbon, L.L.C., USA

With reference to the earlier announcement dated June 03, 2007 with regard to the acquisition of CII Carbon, L.L.C. ("CII"), Rain Calcining Ltd has announced that Rain/CII Holdings, Inc., a subsidiary of the Company, has completed its acquisition of CII for a cash purchase price of approximately US $595 million on July 19, 2007 (New York time). The cash purchase price is subject to certain adjustments.

With its acquisition of CII, the Company has become the largest manufacturer of calcined petroleum coke in the world.

The stock was trading at Rs.42.60, down by Rs.0.15 or 0.35%. The stock hit an intraday high of Rs.43.75 and low of Rs.42.30. The total traded quantity was 134935 compared to 2 week average of 185547.

Source : Equity Bulls

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