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Corporate
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Restructuring
Godrej's medical diagnostics biz
Mumbai, Nov. 26
Godrej Industries Ltd plans to either sell or enter into
a joint venture partnership for its medical
diagnostics business.
In a release to the BSE, the Board of
Directors approved entering into a strategic partnership
by the sale or joint venture agreement of its medical
diagnostics business. The company would share details
after the extraordinary general meeting to be held on
December 28 in this connection, said a company official.
The medical diagnostics business is a part of the Godrej
Industries since 2001, before which it was known as the
biotechnology division under Godrej Soaps. In 1992, the
division tied up with US-based Becton Dickinson for the
distribution of its products in India. A distributor of
diagnostic equipment and consumables, the division is
operated from Mumbai, Delhi and Chennai.
The company's scrip closed on the BSE on Monday at Rs 232
down 0.88 per cent from the previous day's close of Rs
234.05. - Our Bureau
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