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| Exchange Disseminated Time | With reference to the earlier announcement dated May 26, 2014 regarding sale of a German Manufacturing Unit by the Company's 100% subsidiary, MBE Mineral Technologies Pte Ltd, Singapore (MBE Singapore).
McNally Bharat Engineering Company Ltd has now informed BSE that it has been wrongly reported in some of the press reports that the Company has sold its Coal & Mineral Technology business. It is clarified that MBE Singapore, a 100% subsidiary of the Company, has sold 90% of its stake in MBE Cologne Engineering GmbH, a German Manufacturing Unit and a step subsidiary of the Company.
The investment of MBE Singapore, a 100% subsidiary of the Company, in MBE Coal & Mineral Technology GmbH, Cologne, remains in tact and this business remains an integral part of MBE Group. |
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