CMI FPE, one of CMI Industry’s Indian subsidiaries, has received an approval to examine a proposal for merger/amalgamation of CMI Industry Automation, a wholly owned subsidiary of CMI SA into the company, subject to appropriate statutory and regulatory approvals. The board at its meeting held on October 30, 2012 has approved for the same.
Further, the board has constituted a committee for the purpose of appointing valuers, legal advisors, merchant bankers and other consultants/experts required for any issue concerning the above proposal. The committee shall advise the board on valuation, share exchange ratio, formulation of an appropriate scheme and matters related thereto.
The principal activities of the company comprise of manufacturing and installation of cold rolling mills complexes, processing lines, chemical processes, thermal processes and automation equipments for ferrous and non-ferrous industries worldwide. The company, over a period of time, has acquired a global leadership position in the design, manufacture, erection and commissioning of Cold Rolling Mill Complexes and Auxiliary Equipments for the Cold Rolling Industry and the Metal Processing Industry.