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Archidply Industries enters into an agreement for sale of Mysore land

30 Nov 2011 Evaluate

Archidply Industries has entered into an agreement for sale of Mysore land admeasuring 5 acres 31 guntas with Reliance Prolific for a total consideration of Rs 20.85 crore. The company has entered into agreement pursuant to the approval of the shareholders through postal ballot for sale of the Mysore unit.

Further, the company has also taken the steps for selling and disposal of the plant & machinery and building sheds in piecemeal basis on as on where is basis, at a further consideration of approximately Rs 2.00 crore.

Archidply Industries (AIL) is in the business of manufacturing and marketing of Wood panel products. AIL has its manufacturing facilities located at Mysore and Chintamani in Karnataka and at Rudrapur in Uttaranchal with a total installed capacity of 150 and 100 lac sq mt each of plywood and pre-laminated particle board.

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