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Our Bureau

Coimbatore, June 5 Hanung Toys & Textiles Ltd has informed that it is negotiating with two US companies for acquisition.

HEG Ltd’s board of directors at its meeting held on June 5 approved expansion of capacity from current level of 60,000 TPA to 80,000 TPA at a cost of Rs 190 crore at its Graphite Plant at Mandideep. With this expansion, the company will become the world’s largest graphite electrode producer at a single location.

Karnataka Bank Ltd’s board of directors will meet on June 12 to consider issue of equity shares on rights basis and / or other means.

MIC Electronics Ltd has informed that Andhra Pradesh Industrial Infrastructure Corporation Ltd (a wholly owned undertaking of Government of Andhra Pradesh) has developed a SEZ - Fab City SPV (India) Ltd,which is situated around 22 km from Hyderabad, for promoting semi-conductor industries. At the request made for setting up a manufacturing unit for LED True Colour Displays, LED Lighting solutions and Solar-based LED Lighting products, APIIC allocated 50 acres on lease basis. MICEL plans to proceed with construction on this site immediately after completing the documentation work.

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