Talbros Automotive Components sells land & building in Chennai

Talbros Automotive Components has sold its Land & building admeasuring ~1.67 acres situated at Plot No. 22-B, (NP), Ambattur Industrial Estate, Chennai, in the state of Tamil Nadu.

The manufacturing operations at the above land was discontinued and duly intimated to the stock exchanges vide letter dated 14 August 2014. Accordingly, this will have no impact on the operations of the company.

he proceeds of the sale amounted to Rs. 21 crore on gross basis. The net proceeds after deduction of statutory liabilities would be utilized towards reducing debt and strengthening the balance sheet of the company.

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