Tube Investments of India has received an approval to voluntarily liquidate TICI Motors (Wuxi) Company, the wholly-owned subsidiary (WOS) of the company in China. It has taken this step considering the business condition of the company. The board at its meeting held on January 31, 2013 has approved for the same.
Tube Investments of India is a flagship company of the $2.4 billion Murugappa Group. It is engaged in manufacturing of precision steel tubes and strips, car doorframes, automotive and industrial chains and bicycles.
