Aurobindo Pharma Ltd will be selling its intermediates manufacturing unit in Cuddalore, Tamil Nadu.
The Hyderabad-based company has sought shareholders’ approval for the sale of the Unit–X of the company located at the SIPCOT Industrial Complex, Kudikadu village.
“The unit was set up in 2002 and has not upgraded or expanded in capacity as there are constraints for expansion within the same location,’’ the company informed investors in a postal ballot notice.
Further, it has also become unviable to manufacture those few intermediaries as against directly procuring them from others.
The net block value of the unit as on March 31, 2012 was Rs 7 crore, which represents 0.43 per cent of the total net block of fixed assets of the company, it said.