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Innoventive Industries gets nod to float step down subsidiary in USA

31 Dec 2011 Evaluate

Innoventive Industries has received the necessary approval for floating a step down subsidiary in the United States of America (USA) to look after its USA operations. The board at its meeting held on December 30, 2011 has approved for the same.

Recently, the company had received necessary approval for floating a wholly owned subsidiary of the company in the USA. The board at its meeting held on December 16, 2011 had approved for the same.

Innoventive Industries was incorporated for manufacturing of domestic appliances. It is a multiproduct company catering to applications in diverse sectors such as automobile, boiler and heat exchangers, energy, oil and general engineering. It specializes in processing various types of steel, faster development cycles, flexible production systems, effective supply chain management for efficient delivery and capability to make tubular transformations.    

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