Uniply Industries clarifies on news item regarding JV, new project

With reference to the news item appearing in a leading portal titled "Is Uniply Industries in talks with a Malaysian firm for a possible Joint Venture?" Uniply Industries Ltd has clarified about the following:

1. Joint Venture with Malaysian Firm:

The above matter was discussed in the Board of Directors meeting held on January 24, 2006, there has been no further development in the matter.

2. Project at Himachal Pradesh:

The above matter was discussed by the Board at their meeting held on July 31, 2006. The Company informed that the Company is waiting for the approval from Central Empower Committee (CEC) a committee formed by Hon'ble Supreme Court of India. The implementation of the project will follow only after the CEC approval.

3. The Company is pursuing various project synergetic to its expertise, infrastructure etc.

4. The Management is open for FPQ, VC or FCCB:

There has been no such decision taken by Board on the aforesaid matter.

Source : Equity Bulls

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