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Orient Bell to acquire 26% stake in a ceramic tile manufacturing company

Capital Market 

Located in in Morbi (Gujarat)

Orient Bell has entered into an Agreement with a Ceramic Tile Manufacturing Company at Morbi (Gujarat) and its Promoters to acquire its equity stake of 26%.

The said company is setting up a new plant to manufacture about 5.2 million square meters of wall tiles per annum at Morbi (Gujarat) and likely to start Commercial Production by the end of March 2018.

This Strategic stake will give complete access to our company to procure and sell the substantial quantity of tiles to be manufactured by the said company.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, August 10 2017. 13:50 IST