Sunday, March 16, 2025 | 03:12 AM ISTहिंदी में पढें
Business Standard
Notification Icon
userprofile IconSearch

Board of Elgi Equipments decides to wind up subsidiary in China

Image

Capital Market
Elgi Equipments announced that the Board of the Directors of the company through a circular resolution on 26 May 2020 has proposed to wind up the company's subsidiary in China, Elgi Equipments Zhejiang, which carries out the business of import, warehousing, selling and servicing of compressor products. The subsidiary has not been performing to expected levels for the past few years. Elgi Equipments Zhejiang's business operations in China have been severely affected due to the general economic downturn, now aggravated by the advent of Covid-19.

Powered by Capital Market - Live News

Disclaimer: No Business Standard Journalist was involved in creation of this content

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: May 27 2020 | 11:09 AM IST

Explore News