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| Exchange Disseminated Time | TRF Ltd has informed BSE that the Company acquires Dutch Lanka Trailer Manufacturers Ltd (DLT), Sri Lanka - A World Class Trailer.
Annoucement :
"On 7th July 2009, TRF has signed an agreement to acquire DLT. In the first phase, TRF will acquire 51% of Equity Shares at a consideration of US$ 8.67 Mln. It would also sign a Call & Put Option Agreement for acquisition of balance 49% of Equity Shares at a consideration of US$ 8.33 Mln.
DLT has manufacturing facility in Sri Lanka and sells trailers in as many as 30 countries. Dutch Lanka Engineering (Private) Limited, 100% subsidiary of DLT in Sri Lanka, is engaged in Repairs, maintenance and service business for Trailers. DLT also has a subsidiary in OMAN which manufactures and sales trailers in Middle East markets. Through its Joint Venture with TATA International Ltd in India, it manufactures & sells Trailers in India." |
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