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Board of Bemco Hydraulics decide to form subsidiary company

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Capital Market
Last Updated : Jan 06 2015 | 9:05 PM IST

To manufacture high pressure pumps and valves

Bemco Hydraulics announced that the Board of Directors of the Company have through a circular resolution passed on 06 January 2015, decided to form a subsidiary company to undertake manufacture of specialized kind of high pressure pumps and valves along with one Jagdish Joshi, who holds the expertise in the field on 80:20 basis i.e. Bemco's investment would be 80% in the form of working capital & infrastructure and that of Jagdish Joshi 20% in the form of technology & design.

The proposed name of the Company is under approval stage with the officials of Ministry of Corporate Affairs and the same would be intimated once approved by MCA authorities.

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First Published: Jan 06 2015 | 7:50 PM IST

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