The Hindu Business Line : Corporate developments

Coimbatore, Jan. 22 Alps Industries Ltd (AIL) has entered into a technical collaboration and marketing support agreement with Suminoe Textile Company Ltd, Japan for manufacture of automotive fabrics. The project is proposed to be set up at Laksar in Uttaranchal.

The Japanese company will provide design and technical support as well as assist AIL in marketing the fabrics to leading automobile manufactures on the strength of their experience and relationships with all leading automobile manufactures.

Bosch Chassis Systems India Ltd’s board of directors has received a letter from Robert Bosch Gmbh, the parent holding company of the promoters, proposing a voluntary delisting of the shares of the company from the Bombay Stock Exchange Ltd and National Stock Exchange India Ltd and to acquire all outstanding shares of the company in accordance with the guidelines.

Currently, Robert Bosch LLC, USA and Robert Bosch Investment B.V., Netherlands, the promoters of the company, collectively hold 80 per cent of the total issued share capital. The company proposes to take up the matter at the board of directors meeting to be held on January 25.

Container Corporation of India Ltd’s board of directors will consider, at its meeting scheduled to be held on January 30, a recommendation on issue of bonus shares subject to the approval of shareholders.

Godrej Consumer Products Ltd has entered into an agreement for acquiring the Kinky hair business in South Africa.

Kinky hair brand is one of the leading brands in the South African hair business and the trademark is registered in several countries of the world. Kinky’s products include dry hair, hair braids, human hair extensions, hair pieces, wigs and wefted pieces. Kinky also offers hair accessories such as styling gels, hair sprays, oil free shampoo, bonding glue and bonding glue removal. This acquisition is the fourth of GCPL.

India Infoline Ltd’s board of directors has approved investment of up to Rs 25 crore in the subsidiary company IIFL Wealth Management Ltd.

Pantaloon Retail India Ltd’s board of directors has approved setting up wholly owned subsidiary companies for Big Bazaar and Food Bazaar, Speciality Retail Business Activities and Property & Mall Management Division and transfer the respective businesses of the company on a going concern basis to the respective subsidiaries, subject to receipt of all requisite statutory and other necessary approvals.