International Conveyors has received an approval to acquire 3,30,000 equity shares of Rs 10 each held by IGE (India) and 1,50,000 equity shares of Rs 10 each held by R.C.A. of International Belting. Post this acquisition, International Belting will become wholly owned subsidiary of the company. The board at its meeting held on March 21, 2012 has approved for the same.
International Conveyors is engaged in manufacturing and marketing of solid woven textile fabric (carcass) Reinforced Fire Resistant Anti-Static (FRAS) PVC conveyor belts with an aggregate capacity of 7,00,800 MPA at Aurangabad in Maharashtra. The PVC belts find usage in fire hazardous underground mines (coal and potash) and in the areas having the risk of fire.
