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Banco Products gets nod to sell its Gasket Division Business Undertaking

14 Jul 2011 Evaluate

Banco Products’ (India) has received the approval for sale/transfer of its “Gasket Division Business Undertaking” to its proposed subsidiary company -- Banco Gasket (India) -- subject to approval of the same by the members by way of postal ballot process and such other approval/ permissions as may be required in this regard. The company’s board gave the approval for the same at its meeting held on July 14, 2011.

Earlier in April, the company made investment in 100% equity shareholding of Lake Minerals, (Mauritius) by making investment of $25,000 (250 equity shares of $100 each) and accordingly, Lake Minerals (Mauritius) become 100% subsidiary of Banco Products.

Banco Products (India) has been a dedicated supplier of high quality engine cooling components and engine sealing gaskets to the automotive industry for over four decades. It offers complete line of radiators, intercoolers, oil-coolers and all types of engine gaskets.

Banco Products (I) Share Price

624.85 4.95 (0.80%)
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