Sika Interplant Systems Ltd.
Company is evaluating to its new projects at Bangalore, Mysore and taking effective steps for implementation. expect further growth to come through Present business, Acquisitions and New projects.
1.The Board approved the formation of a Joint Venture (JV) in India with MACCON GmbH, Germany for design, develop & manufacture Motion Control and Servo Systems for aerospace, automotive industry. Further Board approved the investment of 51% per cent equity in the proposed joint venture.
2. The Board approved the investment for aerospace components & assemblies project which includes investment of 55% towards equity in a new Company in United Kingdom. The proposed new Company is being promoted with specialist in aerospace components & assemblies.
3.M/s. Spaceciti Projects Pvt Ltd is amalgamated with the Company, consequent upon the amalgamation M/s. Spaceciti Projects Pvt Ltd its subsidiary M/s. Sikka n Sikka Engineers Pvt Ltd have become the subsidiary of the Company which is got a land of about 6.75 acres at Bangalore under lease cum sale agreement with KIADB for engineering activities. The Company will make suitable announcement when said land explored for any development.
4.
Dr. C G Krishnadas Nair, former Chairman of Hindustan Aeronautics Ltd joined the Board of Directors of the Company
5.
the recent merger of M/s. Spaceciti Projects Pvt Ltd with the Sika Interplant Systems Ltd,. Under merger the shares of Sika Interplant Systems Ltd were issued at Rs 78.45 per
6. The Board approved the formation of a Joint Venture (JV) in India with MACCON GmbH, Germany for design, develop & manufacture Motion Control and Servo Systems for aerospace, automotive industry. Further Board approved the investment of 51% per cent equity in the proposed joint venture.
7. The Board approved the investment for aerospace components & assemblies project which includes investment of 55% towards equity in a new Company in United Kingdom. The proposed new Company is being promoted with specialist in aerospace components & assemblies.
hold the stock with along term prospective .
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