Eimco Elecon gets nod to sell surface drilling machines business

Eimco Elecon (India) has received its board’s approval to sell its business relating to the manufacture of Surface Drilling Machines to Sandvik Asia for an amount of Rs 16.5 crore.

The company’s board gave its approval at the meeting held on July 01, 2011. P M Patel, Chairman of the board has been authorized to give effect to the above proposal.

Eimco Elecon (India) was incorporated as a joint venture of ELECON Group of India and Indian Public, it is in the business of manufacturing and marketing equipment for underground and opencast mines.