Date:27/04/2005 URL: http://www.thehindubusinessline.com/2005/04/27/stories/2005042702211001.htm

Back TVS-E plans facility in HP

Our Bureau

CHENNAI: TVS-Electronics Ltd is exploring options to invest in a manufacturing facility in Himachal Pradesh to take advantage of excise duty and other tax concessions.

The company is expected to decide on the feasibility of setting up the facility over the next three months, says a company press release.

Mr Gopal Srinivasan, Director, TVS-E, in the release said, the Himachal initiative represents the continuation of the company's efforts to drive costs down and to sustain its competitiveness. The company announced a change in its accounting year from January-December to April-March to align with its parent, Sundaram Clayton Ltd. Consequent to this, the company's previous fiscal year would be a period of 15 months ending March 31, 2005, the release said.