Date:31/12/2008 URL: http://www.thehindu.com/2008/12/31/stories/2008123155541500.htm

Business - Briefly

Electrotherm announces swap for demerger

MUMBAI: The Board of Electrotherm India has approved the scheme of arrangement of demerger of the engineering business of the company into Electrotherm Engineering & Projects as a wholly owned subsidiary. Under the arrangement, one equity share of Electrotherm Engineering will be issued for every three equity shares held in Electrotherm India, according to a Bombay Stock Exchange notification.