Bombay Burmah Trading Corporation has concluded the sale of BCL Springs Division to NHK Automotive Components India at the close of business hours on November 30, 2011.
Earlier, the company had proposed transfer and sale of the company's BCL Springs Division as a going concern on a slump sale basis for a lumpsum consideration of Rs 180.50 crore to NHK Automotive Components India subject to the approval of the shareholders and other government regulatory approvals.
BCL Springs Division engaged in the business of manufacturing and marketing Springs and located at Aurangabad.
Bombay Burman Corporation is in the business of teak and has diversified its interests in Tea, Coffee, Dental Products and Formica Laminates. The company is also engaged in other businesses like laminate products, dental products, springs, ophthalmic products, weighing products, orthopaedic products and auto electrical components.
