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 Corporate - Announcements
LG Balakrishnan's venture

Coimbatore, Oct. 1

LG Balakrishnan & Bros Ltd (LGB), with reference to the earlier communication regarding the sale/ transfer/disposal of the industrial chain business situated at Gudalur, Dindigul and the potential joint venture with Renold UK Manchester, for which LGB has contributed Rs 6.25 crore as its 25 per cent stake (i.e. Renold Chain India Pvt. Ltd) and also received the initial consideration in the sale of the undertaking, has said the final steps in the sale are expected to be finalised at the end of the financial year. -Our Bureau

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