Thermax - ME Engineering - the step down subsidiary Company

Thermax Ltd has announced that inspite of concerted efforts, the performance of ME Engineering Ltd. the step down subsidiary of the Company has not been in line with its projections.

Considering the future financial projections and business viability, the Board of Directors of ME Engineering Ltd., has decided to refer the Company to administration and to appoint administrators as per laws of UK.

Source : Equity Bulls

Keywords