McNally Bharat Engineering Company announces business realignment

McNally Bharat Engineering Company (MBE) has decided to transfer its entire holding in MBE Coal & Mineral Technology India - its 99.99 percent subsidiary company - to another subsidiary - McNally Sayaji Engineering - as part of its business realignment strategy.

The company, according to a regulatory filing with the Bombay Stock Exchange, took the decision post its board meeting on Friday evening.

Part of the Williamson Magor Group, Kolkata-based MBE is one of the leading engineering companies in the country engaged in providing turnkey solutions in the areas of power and steel among several other segments.

It also manufactures a wide range of products like stock-yard equipment required for its various projects through its subsidiary company- McNally Sayaji Engineering - to whom it provides the requisite technology and design, if required.

It has also ventured into manufacturing critical fabricated equipment for the nuclear power industry.