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| Exchange Disseminated Time | With reference to the news item appearing in the media titled "Kirloskar Oil In Agmt W/Rolls-Royce To Build Gensets For Nuclear Plants", Kirloskar Oil Engines Ltd has Clarified to BSE as under:
"We would like to inform you that, on January 27, 2015 the Company has signed a Memorandum of Understanding (MOU) with MTU Friedrichshafen GmbH (MTU), Germany, for supply of MTU Engines, which will be used by the Company for assembling Emergency Gensets for possible future requirements of Nuclear Power Plants in India. The signing of this MOU was only for purpose of stating intent of co-operation for future business.
As on date there is no firm order executed in this regard by the Company with MTU for supply of Emergency Gen sets to Nuclear Power Corporation of India Limited (NPCIL).
The Company has completed execution of its order of 16 Emergency Gensets to NPCIL in Dec 2014. This order was executed over a period of 3 financial years. The MOU with MTU, holds us in good stead to execute future orders, should the opportunity arise. As such, in the Company’s view, this MOU is not price sensitive information and hence not required to be reported under Clause 36 of the Listing Agreement." |
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