TRF’s wholly-owned subsidiary -- TRF Singapore Pte (TRFS) has executed a share purchase agreement to sell its entire stake held in its wholly-owned subsidiary, Dutch Lanka Trailer Manufacturers, Sri Lanka (DLT) including its 100% subsidiary Dutch Lanka Engineering, Sri Lanka (DLE) to United Motors Lanka PLC, Sri Lanka (UML). This transaction is subject to approval of the shareholders of the Company. On completion of the above transaction, TRFS will cease to hold any shares in DLT. The Company expects to obtain all necessary approvals to complete the transaction in approximately 60 days.
TRF has been engaged in the business of designing & manufacturing of the Bulk material handling systems and equipments for core sector industries such as power, ports, steel, mining and cement for projects undertaken on Turnkey basis.
