Company news

| Updated on January 12, 2018 Published on June 08, 2017

Pidilite Industries has informed the exchanges that Pidilite USA Inc (PUSA), a wholly-owned subsidiary of Pidilite Industries, has entered into an agreement with Niteo Products LLC, USA for sale of business of the Cyclo Division of PUSA. The cyclo division is engaged in the business of automobile grooming, performance and maintenance products and other such products. Some of the trademarks used by the cyclo division were owned by Pidilite International Pte Ltd., Singapore, a wholly-owned subsidiary of Pidilite Industries and these will also stand assigned to Niteo Products LLC, USA. Shares of Pidilite Industries closed at ₹796.30, down 0.28 per cent on the BSE on Thursday.

With reference to the change of name of Fedders Lloyd Corporation Limited to Fedders Electric and Engineering Limited, the Registrar of Companies, Uttar Pradesh, has given its approval to the name-change vide the Certificate of Incorporation dated May 23, 2017. Accordingly, the company has also obtained the final approvals with respect to the name-change from the stock exchanges in which its equity shares are listed. Shares of Fedders Electric closed at ₹72.60, up 0.35 per cent on the BSE on Thursday.

The Board of Directors of Next Radio has, at its meeting held on June 8, 2017, approved transfer of its FM radio broadcasting business at Ahmedabad to its wholly-owned subsidiary Syngience Broadcast Ahmedabad. The Board of NRL also approved the Scheme of Arrangement with the appointed date as April 1, 2017. The transfer of the business is subject to approval by the National Company Law Tribunal and the Ministry of Information & Broadcasting.

Published on June 08, 2017
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