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Modi Rubber queers pitch for Guardian
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Modi Rubber has told the government that it will not grant a no-objection certificate to US glass-maker Guardian Industries for setting up a separate wholly owned glass venture in the country.
Modi Rubber, which holds 21.24 per cent in float glass and mirror-maker Gujarat Guardian, said this on August 17, a day before the expiry of the two-week deadline set by the FIPB for the company to give its view on Guardian’s plans to set up a wholly owned subsidiary in the country.
Guardian intends to invest $66 million in equity in an expansion plan that will involve an overall investment of $200 million in two phases.
Read the entire news on the source link below.
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August 28th, 2006
Source: Business-Standard.com |
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