JL Morison (India) will get Rs 18 crore from Beiersdorf AG in lieu of the changed business relationship between the two companies.According to a release issued by JL Morison to the BSE today, the licensing agreement between the company and Beiersdorf AG for using the trade-marks, know-how and copyrights in India for Nivea products stands cancelled since the latter has received FIPB approval to establish a wholly-owned subsidiary in India to manufacture and market consumer products."BDF will utilize the company's Waluj plant for manufacturing certain products, and will utilise the company as a distributor for the products manufactured or imported by its subsidiary in India on terms to be mutually agreed," the release added.
