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| Exchange Disseminated Time | With reference to the earlier announcement regarding an acquisition in Italy, Windsor Machines Ltd has now informed BSE that Wintech B.V., a Wholly Owned Subsidiary (WOS) of M/s. Windsor Machines Limited has incorporated a wholly owned subsidiary, namely "Wintal Machines S.r.l." on September 16, 2013, in Italy to acquire the business of an Italian Company, Italtech S.p.a.
Further the Company has informed that, Wintal Machines S.r.l has entered into Preliminary Transfer of Business Agreement with Italian authorities under Italian Bankruptcy Law for leasing the business of Italtech S.p.a., with the aim of buying the same in a predetermined time period. During this period Wintal Machines S.r.l. will manage and grow the business of Italtech S.p.a. around the world.
This acquisition is a great opportunity for M/s. Windsor Machines Limited to get superior technology for Injection Moulding Division as well as to get Italtech S.p.a's erstwhile global customers. This shall help M/s. Windsor Machines Limited to serve its customers, in India & abroad, with better products and services. |
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