Stovec Industries has executed asset transfer agreement and trademark assignment agreement with Atul Sugar Screens (ASSPL) on April 17, 2018. Both the parties have agreed for April 17, 2018 as the date of closing of Asset Transfer Agreement.
Earlier, Stovec Industries’ Board had approved the sale of the identified assets (production assets and intangibles relating to the sugar screens business) of the company. The board had also approved the assignment of the trademark ‘Atul’ to Atul Sugar Screens (ASSPL), a fellow subsidiary of the company.
Stovec Industries is an India-based company, which is engaged in the development and production of consumables for their use in textile and graphic printing industry.
