Proposal to transfer the import and distribution business of Glasurit® , an automotive refinish paint brand to Wurth India Private Limited

BASF India Ltd has informed BSE that the Company on December 16, 2014 signed a Memorandum of Understanding with Wurth India Private Limited ("Wurth") to transfer its Import and distribution business of Glasurit®, an automotive refinish paint brand in India, subject to receipt of requisite approvals as may be necessary. The Company will sign a definitive agreement for transfer of this business on or before January 31, 2015.

The transfer of import and distribution business of Glasurit® to Wurth is not considered material as compared to the turnover of the Company for the financial year ended March 31, 2014 and hence there is no material impact on the overall growth of the Company.

Source : BSE - www.bseindia.com

Published on December 16, 2014
TOPICS

Related

This article is closed for comments.
Please Email the Editor