Metrochem Industries gets approval for scheme of amalgamation

19 Jul 2011

Metrochem Industries has received an approval from respective High Court for scheme of amalgamation in the nature of amalgamation of Metrochem Industries (transferor company) with Global Boards (transferee company) and restructure of share capital of Global Boards and their respective shareholders has been approved by Gujarat High Court, at Ahmedabad for transferor company and High Court of Bombay for transferee company.

Last year in November, Metrochem Industries’ equity shareholders and unsecured creditors had approved the scheme of arrangement in the nature of amalgamation of the company with Global Boards.

MetroChem Industries is leading manufacturers and exporters of dyestuff and dye intermediates, while Global Boards is a manufacturer of paper boards. The company manufactures chromo boards, art boards, folding-box boards, liquid-bleached boards, duplex boards, and cast-coated boards.

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