Date:15/10/2004 URL: http://www.thehindubusinessline.com/2004/10/15/stories/2004101502380201.htm

Back Godrej Ind in tie-up with Avestha

Our Bureau

MUMBAI: Avestha Gengraine Technologies Pvt Ltd, a biotech research company, on Thursday announced a strategic tie-up with two investors towards furthering its R&D efforts. One of them is Godrej Industries Ltd.

"The strategic partnership is part of the company's plans of attracting investments through partnership and the way forward for Avesthagen," a news release said.

As part of the restructuring, Mr Nadir Godrej, Managing Director, Godrej Industries, has been appointed to the board of directors while Mr Khushroo Rustumji, Chairman, Taneja Aerospace, no longer serves on the board.

"Mr Nadir Godrej will bring in his vast business insight into the development & marketing of new products," the release said.

"These partnerships will go a long way in ensuring success for Avesthagen. With Mr Godrej joining the board, we will have access to large pool of knowledge, which will provide more focused strategic direction to Avesthagen. At the same time, we are grateful for the support and guidance provided by Mr Rustumji during the early years of the company's existence," the release said quoting Dr Villoo M Patell, Founder & CEO, Avestha Gengraine Technologies Pvt Ltd.