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EID Parry to sell 3 divisions to Parry Engg

CHENNAI: EID Parry India has informed the Bombay Stock Exchange that the board of directors at its meeting held on March 29 has approved the sale of its Netlon division (manufacture and marketing of extruded polymer meshes, general marketing division and travel division to Parry Engineering and Exports Ltd., for a total consideration of Rs. 12.25 crores, subject to various approvals. It has further informed that East India Sugars Pvt. Ltd. has become a subsidiary of the company from March 29, consequent to the acquisition of 95 per cent of the paid up capital of the company. — Our Bureau

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