Gontermann-Peipers (India): Outcome of Board Meeting

This is to inform that Board in its meeting held on 25th September 2019 has accorded its approval to sale / transfer of the business of the company comprising the Roll Manufacturing Plant (both cast roll and forge roll division) situated at P.O. Pailan Diamond Harbour Road 24 Parganas (South) Kolkata - 700 104 (West Bengal) along with employees all related assets including land and building plant and machinery accessories and equipments along with all relevant contracts arrangements liabilities including but not limited to all licenses approvals rights manufacturing technology brand logos permits and interest thereof as a going concern and on a slump sale basis to a prospective buyer at a consideration as may be mutually agreed between the Board and the prospective buyer which however should not be less than Rs. 150 Crores.

This is for your information and record.