Online edition of India's National Newspaper
Thursday, Nov 02, 2006
ePaper
Online edition of India's National Newspaper Thursday, Nov 02, 2006 ePaper |
|
|
|
|
|
|
| Business |
|
News:
ePaper |
Front Page |
National |
Tamil Nadu |
Andhra Pradesh |
Karnataka |
Kerala |
New Delhi |
Other States |
International |
Opinion |
Business |
Sport |
Miscellaneous |
Engagements |
Advts: Classifieds | Jobs | Obituary |
Business
CHENNAI: India Pistons Limited, Chennai, in a press statement says: "A section of the press has carried recently a news item that Federal Mogul Corporation of U.S.A. is close to acquiring a majority stake in India Pistons Limited, a leading auto components manufacturer. The news item is unfounded, false and misleading. "India Pistons is in the front ranks of the auto components industry; it is an approved and major supplier to almost all the vehicles and tractor manufacturers in the country, has a significant presence in the aftermarket with an extensive range of pistons, rings and allied engine components and its exports are sizable. The company enjoys a pioneer status, being the first to commence manufacture of engine components in the country. The company, a member of the well-known Amalgamations Group, was promoted by Simpson & Co. in 1949. Simpson & Co. is the majority shareholder with 70 per cent holdings and Federal Mogul holds the remaining 30 per cent. "India Pistons wishes to state categorically that there is no proposal or ongoing negotiation to change this share holding pattern to enable Federal Mogul to increase its holdings in the company."
Printer friendly
page
News:
ePaper |
Front Page |
National |
Tamil Nadu |
Andhra Pradesh |
Karnataka |
Kerala |
New Delhi |
Other States |
International |
Opinion |
Business |
Sport |
Miscellaneous |
Engagements |
|
|
|
The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription Group Sites: The Hindu | The Hindu ePaper | Business Line | Business Line ePaper | Sportstar | Frontline | Publications | eBooks | Images | Home |
Copyright © 2006, The
Hindu. Republication or redissemination of the contents of
this screen are expressly prohibited without the written consent of
The Hindu
|
