Polymer products maker Time Technoplast today said it has entered into an agreement to acquire majority stake in Kompozit-Praha, Czech Republic, for $5.20 million (nearly Rs 25.41 crore).     

The company has signed a memorandum of understanding(MoU) which allows it to acquire 70 per cent stake in a composite cylinder manufacturing company, Kompozit-Praha, Time Technoplast said in a filing to the Bombay Stock Exchange (BSE). 

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