Date:06/05/2005 URL: http://www.thehindubusinessline.com/2005/05/06/stories/2005050601510200.htm

Back Ucal in talks to buy US firm

Our Bureau

Chennai , May 5

UCAL Fuel Systems Ltd is in the process of negotiating the price for the acquisition of 100 per cent of the equity capital of AMTEC Precision Products, US, Ucal's Managing Director, Mr K. Jayakar, said on Thursday.

He said that while both sides had agreed on a ceiling of $28 million for the acquisition, the consideration for the deal was yet under negotiation.

On Wednesday, Ucal's shareholders approved a resolution to buy all the shares of AMTEC.