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Gontermann-Peipers gets nod for sale of roll manufacturing plant in Kolkata

26 Sep 2019 Evaluate

Gontermann-Peipers (India) has received an approval for sale / transfer of the business of the company, comprising the Roll Manufacturing Plant (both cast roll and forge roll division) situated at P.O. Pailan, Diamond Harbour Road, 24 Parganas (South), Kolkata, West Bengal, along with employees, all related assets including land and building, plant and machinery, accessories and equipments along with all relevant contracts, arrangements, liabilities including but not limited to all licenses, approvals, rights, manufacturing technology, brand, logos, permits and interest thereof, as a going concern and on a slump sale basis to a prospective buyer at a consideration as may be mutually agreed between the Board and the prospective buyer which, however, should not be less than Rs 150 crore.

The Board of the company at their meeting held on September 25, 2019, approved the same.

Gontermann-Peipers (India) is a leading manufacturer of rolling mill rolls. The company's product range includes Cast Rolls, Forged Rolls, SG Iron rolls, High Speed Steel Roll and Back-up Rolls for Steel Rolling Mills.

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