Gujarat Fluorochem to form JV with Chinese Firm
Gujarat Fluorochemicals Ltd on has said it will enter into a joint venture with China-based Ying Peng Chemical Company.
By PTI |
MUMBAI: Gujarat Fluorochemicals Ltd (GFL) on Wednesday said it will enter into a joint venture with China-based Ying Peng Chemical Company for manufacturing a strategic raw material.
The board of directors at its meeting toady approved signing a JV agreement with Ying Peng Chemical Company for manufacturing 35,000 tons per annum of Anhydrous Hydrofluoric Acid, it informed the Bombay Stock Exchange.
The company, however, did not reveal further details. The board has also approved the proposal entailing sub-division of its equity shares and declaration of interim dividend.
The company would sub-divide one equity share with a face value of Rs 2 each into two shares of Re 1 each, subject to shareholders approval.
Gujarat Fluorochemicals declared an interim dividend of Rs 3 on shares of Rs 2 each (150 per cent) for the financial year 2007-08.
Meanwhile, S Rama Iyer has been appointed as an additional director on the board of the company.
Shares of the company closed at Rs 697.05, up 0.22 per cent on BSE.
The board of directors at its meeting toady approved signing a JV agreement with Ying Peng Chemical Company for manufacturing 35,000 tons per annum of Anhydrous Hydrofluoric Acid, it informed the Bombay Stock Exchange.
The company, however, did not reveal further details. The board has also approved the proposal entailing sub-division of its equity shares and declaration of interim dividend.
The company would sub-divide one equity share with a face value of Rs 2 each into two shares of Re 1 each, subject to shareholders approval.
Gujarat Fluorochemicals declared an interim dividend of Rs 3 on shares of Rs 2 each (150 per cent) for the financial year 2007-08.
Meanwhile, S Rama Iyer has been appointed as an additional director on the board of the company.
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Shares of the company closed at Rs 697.05, up 0.22 per cent on BSE.
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