MIC Electronics has received an approval for disinvestment of its stake in MIC Electronics Inc (USA) in order to improve cash flows. The board of directors at their meeting held on February 11, 2015 have approved for the same.
The board has also authorized Managing Director to find a prospective buyer and negotiate, deal, finalize the price at fair market value in the best interest of the company.
MIC Electronics is a global leader in the design, development & manufacturing of LED Video Displays and Lighting Products. Recognized by the Department of Scientific and Industrial Research for its LED technology, MIC has been at the forefront of LED Applications for more than 25 years and acknowledged as the market share leader for Indian LED products.
