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The board of Greenply Industries on Wednesday consented to explore an option to de-merge the MDF division into Greenpanel Industries Ltd, a wholly-owned subsidiary of the company. Details of the proposed de-merger will be communicated to the stock exchanges once the board of directors approves the same, it informed the exchanges. The board also approved expansion of the veneer line at the existing manufacturing unit of Greenply Gabon SA, Gabon, a step-down wholly-owned subsidiary, situated in West Africa. Shares of Greenply Industries gained 0.81 per cent at ₹330.55 on the BSE.
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