Rushil Decor has executed a Business Transfer Agreement (BTA) on May 27, 2014 with Salasar Agropanel agreeing to sell the specified assets of Particle Board Manufacturing Unit situated at Survey No. 270, Village Navalgadh, Taluka Dhrangadhra, District Surendranagar, Gujarat.
As per terms of agreement, Company will transfer some assets on or before September 30, 2014 and other assets on or before March 31, 2015 on receipt of agreed consideration. The total consideration finalized is Rs 1337.00 Lakh.
Rushil Decor is engaged in the manufacturing of laminate sheets and plain particle boards. RDL manufactures laminates of both decorative (single-sided) as well as industrial (double-sided) laminates with a wide range of design colour and finish. RDL caters to the domestic as well as export markets and sells its products under the brand name of ‘Vir Laminates’ and ‘Vir Boards.