McNally Bharat to transfer its entire stake in CMT India to McNally Sayaji Engineering

McNally Bharat to transfer its entire stake in CMT India to McNally Sayaji Engineering

This step has been taken as a part of the company’s business realignment strategy
McNally Bharat Engineering Company has received an approval to transfer 100% holding of the company in MBE Coal & Mineral Technology India (CMT India), a 99.99% subsidiary of the company, to another subsidiary, McNally Sayaji Engineering.

This step has been taken as a part of the company’s business realignment strategy. The board of directors at their meeting held on October 23, 2015 has approved for the same.

McNally Bharat Engineering Company is one of the leading engineering companies. It provides turnkey solutions in areas of power, steel, alumina, material handling, mineral beneficiation, coal washing, ash handling and disposal, port cranes, civic and industrial water supply etc.
source:ventura