Nelco Ltd.

Nelco has received an approval for sale of Unattended Ground Sensors (UGS) business in response to letter of offer for UGS received from The Tata Power Company for its Strategic Engineering Division (SED) as a going concern on a slump sale basis at a consideration of Rs 8.31 crore with effect from October 01, 2014.

The board of director at their meeting held on January 28, 2015 has approved for the same. The above shall be subject to various approvals and consents including from the members as required under applicable law.

The company had earlier on April 03, 2014 received the board’s approval to restructure the operations of its Integrated Security & Surveillance Solutions business (ISSS business) which includes the defense business consisting mainly of the UGS Business.

Nelco, is a part of the leading business house - the Tata group. The company is focused on system integration and product management for industrial controls, power, electronics, defence electronics, VSAT networks and automation.