ZF Steering Gear India informs about outcome of board meeting

ZF Steering Gear India has informed that at the Meeting of Board of Directors held on November 04, 2015, the Board, in-principle had decided to acquire an Industrial Plot in State Industries Promotion Corporation of Tamilnadu Ltd. (SIPCOT) Industrial-park at Vallam-Vadagal, Chennai. In view of the further discussion and analysis, the Company has decided to differ the implementation of the proposal to acquire Industrial Plot. Thus, the decision of the Board of Directors of the Company dated November 04, 2015 to acquire the said Industrial Plot, stands cancelled for the time being.

The above information is a part of company’s filings submitted to BSE.