Mangalam Cement to merge with Mangalam Timber

01 Oct 2010 CW Staff

BK Birla Group company, Mangalam Cement has approved the merger of sister firm Mangalam Timber Products with itself. The company has also appointed the consultancy firm Ernst and Young to give their opinion on the valuation as well as recommending the fair exchange ratio.

Mangalam Cement, which has a 2 mpta facility at Kota in Rajasthan, had recorded Rs 622.34 crore income in 2009-10 compared to Rs 566.13 crore a year ago. Net profit of the company in the last fiscal was Rs 118.81 crore against Rs 97.16 crore in the previous fiscal.

Contact: Mangalam Cement Ltd. Tel: (0) 93514 68076. E-mail : mclmorak@kappa.net.in Website: www.mangalamcement.com

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